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  1. #1
    Bronze Lounger
    Join Date
    Jan 2001
    Thanked 0 Times in 0 Posts

    Amortization Schedule (2000)

    I would like to set up an amortization schedule with the following parameters: Number Of Monthly Pmts (N)=72; Interest Rate Per Year=8.50%; Principal Loan Amount=$25,000; Beginning Pmt Date=2/25/2002, with each additional "regular" payment being made on the 25th day of each succeeding month.

    My question: Can I use the amortization functions "embedded" in Excel (i. e., PMT, PPMT, IPMT) to set up my amortization schedule, and how do I set one up to allow for additional principal payments? For example, assume I want to pay an additional $250 on principal on March 15, 2002, and still keep the same (or very similar) monthly payment amount and number of monthly payments.


  2. #2
    Uranium Lounger
    Join Date
    Dec 2000
    Salt Lake City, Utah, USA
    Thanked 5 Times in 5 Posts

    Re: Amortization Schedule (2000)

    Jeff, you can use PMT, etc., to set up a standard schedule, but doing the calcs for an irregular payment of additional principal may be difficult, as the impact is to shorten the loan period (or lower the payment, but you stated you didn't want to do that.) You may want to look into NPER and NPV.
    -John ... I float in liquid gardens
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