Excel Amortization Formulas

HELP © 2005-2018 Vertex42 LLC

$140,000
Inputs $120,000
Cumulative Principal
Loan Amount $ 125,000 $100,000 Cumulative Interest
Annual Interest Rate 7.00% $80,000
Term of Loan in Years 15
$60,000
Summary
$40,000

Monthly Payment $1,123.54 $20,000

# of Payments 180
$-
Total Payment $202,236.36 0 2 4 6 8 10 12 14 16
Total Interest $77,236.36 Year [42]

Cumulative Cumulative
Month Payment Interest Principal Balance Year Interest Principal Balance
$125,000.00 $125,000.00
1 1,123.54 729.17 394.37 124,605.63 1 8,595.18 4,887.25 120,112.75
2 1,123.54 726.87 396.67 124,208.96 2 16,837.05 10,127.79 114,872.21
3 1,123.54 724.55 398.98 123,809.98 3 24,700.09 15,747.18 109,252.82
4 1,123.54 722.22 401.31 123,408.67 4 32,156.90 21,772.79 103,227.21
5 1,123.54 719.88 403.65 123,005.02 5 39,178.12 28,234.00 96,766.00
6 1,123.54 717.53 406.01 122,599.01 6 45,732.26 35,162.28 89,837.72
7 1,123.54 715.16 408.37 122,190.64 7 51,785.55 42,591.41 82,408.59
8 1,123.54 712.78 410.76 121,779.88 8 57,301.79 50,557.60 74,442.40
9 1,123.54 710.38 413.15 121,366.73 9 62,242.16 59,099.66 65,900.34
10 1,123.54 707.97 415.56 120,951.16 10 66,565.01 68,259.23 56,740.77
11 1,123.54 705.55 417.99 120,533.18 11 70,225.73 78,080.94 46,919.06
12 1,123.54 703.11 420.43 120,112.75 12 73,176.43 88,612.66 36,387.34
13 1,123.54 700.66 422.88 119,689.87 13 75,365.79 99,905.73 25,094.27
14 1,123.54 698.19 425.34 119,264.53 14 76,738.77 112,015.17 12,984.83
15 1,123.54 695.71 427.83 118,836.71 15 77,236.36 125,000.00 0.00
16 1,123.54 693.21 430.32 118,406.38
17 1,123.54 690.70 432.83 117,973.55
18 1,123.54 688.18 435.36 117,538.20
19 1,123.54 685.64 437.90 117,100.30
20 1,123.54 683.09 440.45 116,659.85
21 1,123.54 680.52 443.02 116,216.83
22 1,123.54 677.93 445.60 115,771.23
23 1,123.54 675.33 448.20 115,323.02
24 1,123.54 672.72 450.82 114,872.21
25 1,123.54 670.09 453.45 114,418.76
26 1,123.54 667.44 456.09 113,962.67
27 1,123.54 664.78 458.75 113,503.91
28 1,123.54 662.11 461.43 113,042.48
29 1,123.54 659.41 464.12 112,578.36
30 1,123.54 656.71 466.83 112,111.53
31 1,123.54 653.98 469.55 111,641.98
32 1,123.54 651.24 472.29 111,169.69
33 1,123.54 648.49 475.05 110,694.65
34 1,123.54 645.72 477.82 110,216.83
35 1,123.54 642.93 480.60 109,736.23
36 1,123.54 640.13 483.41 109,252.82
37 1,123.54 637.31 486.23 108,766.59

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 Cumulative Cumulative
Month Payment Interest Principal Balance Year Interest Principal Balance
38 1,123.54 634.47 489.06 108,277.53
39 1,123.54 631.62 491.92 107,785.61
40 1,123.54 628.75 494.79 107,290.83
41 1,123.54 625.86 497.67 106,793.15
42 1,123.54 622.96 500.58 106,292.58
43 1,123.54 620.04 503.50 105,789.08
44 1,123.54 617.10 506.43 105,282.65
45 1,123.54 614.15 509.39 104,773.26
46 1,123.54 611.18 512.36 104,260.91
47 1,123.54 608.19 515.35 103,745.56
48 1,123.54 605.18 518.35 103,227.21
49 1,123.54 602.16 521.38 102,705.83
50 1,123.54 599.12 524.42 102,181.41
51 1,123.54 596.06 527.48 101,653.94
52 1,123.54 592.98 530.55 101,123.38
53 1,123.54 589.89 533.65 100,589.73
54 1,123.54 586.77 536.76 100,052.97
55 1,123.54 583.64 539.89 99,513.08
56 1,123.54 580.49 543.04 98,970.03
57 1,123.54 577.33 546.21 98,423.82
58 1,123.54 574.14 549.40 97,874.43
59 1,123.54 570.93 552.60 97,321.83
60 1,123.54 567.71 555.82 96,766.00
61 1,123.54 564.47 559.07 96,206.94
62 1,123.54 561.21 562.33 95,644.61
63 1,123.54 557.93 565.61 95,079.00
64 1,123.54 554.63 568.91 94,510.09
65 1,123.54 551.31 572.23 93,937.86
66 1,123.54 547.97 575.56 93,362.30
67 1,123.54 544.61 578.92 92,783.38
68 1,123.54 541.24 582.30 92,201.08
69 1,123.54 537.84 585.70 91,615.38
70 1,123.54 534.42 589.11 91,026.27
71 1,123.54 530.99 592.55 90,433.72
72 1,123.54 527.53 596.01 89,837.72
73 1,123.54 524.05 599.48 89,238.24
74 1,123.54 520.56 602.98 88,635.26
75 1,123.54 517.04 606.50 88,028.76
76 1,123.54 513.50 610.03 87,418.73
77 1,123.54 509.94 613.59 86,805.13
78 1,123.54 506.36 617.17 86,187.96
79 1,123.54 502.76 620.77 85,567.19
80 1,123.54 499.14 624.39 84,942.80
81 1,123.54 495.50 628.04 84,314.76
82 1,123.54 491.84 631.70 83,683.06
83 1,123.54 488.15 635.38 83,047.68
84 1,123.54 484.44 639.09 82,408.59
85 1,123.54 480.72 642.82 81,765.77
86 1,123.54 476.97 646.57 81,119.20
87 1,123.54 473.20 650.34 80,468.86
88 1,123.54 469.40 654.13 79,814.72
89 1,123.54 465.59 657.95 79,156.78
90 1,123.54 461.75 661.79 78,494.99
91 1,123.54 457.89 665.65 77,829.34
92 1,123.54 454.00 669.53 77,159.81
93 1,123.54 450.10 673.44 76,486.37
94 1,123.54 446.17 677.36 75,809.01

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 Cumulative Cumulative
Month Payment Interest Principal Balance Year Interest Principal Balance
95 1,123.54 442.22 681.32 75,127.69
96 1,123.54 438.24 685.29 74,442.40
97 1,123.54 434.25 689.29 73,753.11
98 1,123.54 430.23 693.31 73,059.80
99 1,123.54 426.18 697.35 72,362.45
100 1,123.54 422.11 701.42 71,661.03
101 1,123.54 418.02 705.51 70,955.52
102 1,123.54 413.91 709.63 70,245.89
103 1,123.54 409.77 713.77 69,532.12
104 1,123.54 405.60 717.93 68,814.19
105 1,123.54 401.42 722.12 68,092.07
106 1,123.54 397.20 726.33 67,365.74
107 1,123.54 392.97 730.57 66,635.17
108 1,123.54 388.71 734.83 65,900.34
109 1,123.54 384.42 739.12 65,161.22
110 1,123.54 380.11 743.43 64,417.80
111 1,123.54 375.77 747.76 63,670.03
112 1,123.54 371.41 752.13 62,917.90
113 1,123.54 367.02 756.51 62,161.39
114 1,123.54 362.61 760.93 61,400.46
115 1,123.54 358.17 765.37 60,635.10
116 1,123.54 353.70 769.83 59,865.27
117 1,123.54 349.21 774.32 59,090.95
118 1,123.54 344.70 778.84 58,312.11
119 1,123.54 340.15 783.38 57,528.73
120 1,123.54 335.58 787.95 56,740.77
121 1,123.54 330.99 792.55 55,948.23
122 1,123.54 326.36 797.17 55,151.06
123 1,123.54 321.71 801.82 54,349.24
124 1,123.54 317.04 806.50 53,542.74
125 1,123.54 312.33 811.20 52,731.53
126 1,123.54 307.60 815.93 51,915.60
127 1,123.54 302.84 820.69 51,094.91
128 1,123.54 298.05 825.48 50,269.42
129 1,123.54 293.24 830.30 49,439.13
130 1,123.54 288.39 835.14 48,603.99
131 1,123.54 283.52 840.01 47,763.97
132 1,123.54 278.62 844.91 46,919.06
133 1,123.54 273.69 849.84 46,069.22
134 1,123.54 268.74 854.80 45,214.42
135 1,123.54 263.75 859.78 44,354.64
136 1,123.54 258.74 864.80 43,489.84
137 1,123.54 253.69 869.84 42,619.99
138 1,123.54 248.62 874.92 41,745.08
139 1,123.54 243.51 880.02 40,865.05
140 1,123.54 238.38 885.16 39,979.90
141 1,123.54 233.22 890.32 39,089.58
142 1,123.54 228.02 895.51 38,194.06
143 1,123.54 222.80 900.74 37,293.33
144 1,123.54 217.54 905.99 36,387.34
145 1,123.54 212.26 911.28 35,476.06
146 1,123.54 206.94 916.59 34,559.47
147 1,123.54 201.60 921.94 33,637.53
148 1,123.54 196.22 927.32 32,710.21
149 1,123.54 190.81 932.73 31,777.49
150 1,123.54 185.37 938.17 30,839.32
151 1,123.54 179.90 943.64 29,895.68

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 Cumulative Cumulative
Month Payment Interest Principal Balance Year Interest Principal Balance
152 1,123.54 174.39 949.14 28,946.54
153 1,123.54 168.85 954.68 27,991.86
154 1,123.54 163.29 960.25 27,031.61
155 1,123.54 157.68 965.85 26,065.76
156 1,123.54 152.05 971.49 25,094.27
157 1,123.54 146.38 977.15 24,117.12
158 1,123.54 140.68 982.85 23,134.27
159 1,123.54 134.95 988.59 22,145.68
160 1,123.54 129.18 994.35 21,151.33
161 1,123.54 123.38 1,000.15 20,151.18
162 1,123.54 117.55 1,005.99 19,145.19
163 1,123.54 111.68 1,011.86 18,133.34
164 1,123.54 105.78 1,017.76 17,115.58
165 1,123.54 99.84 1,023.69 16,091.89
166 1,123.54 93.87 1,029.67 15,062.22
167 1,123.54 87.86 1,035.67 14,026.55
168 1,123.54 81.82 1,041.71 12,984.83
169 1,123.54 75.74 1,047.79 11,937.04
170 1,123.54 69.63 1,053.90 10,883.14
171 1,123.54 63.48 1,060.05 9,823.09
172 1,123.54 57.30 1,066.23 8,756.86
173 1,123.54 51.08 1,072.45 7,684.40
174 1,123.54 44.83 1,078.71 6,605.69
175 1,123.54 38.53 1,085.00 5,520.69
176 1,123.54 32.20 1,091.33 4,429.36
177 1,123.54 25.84 1,097.70 3,331.66
178 1,123.54 19.43 1,104.10 2,227.56
179 1,123.54 12.99 1,110.54 1,117.02
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 Cumulative Cumulative
Month Payment Interest Principal Balance Year Interest Principal Balance
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 Cumulative Cumulative
Month Payment Interest Principal Balance Year Interest Principal Balance
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 Cumulative Cumulative
Month Payment Interest Principal Balance Year Interest Principal Balance
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HELP
https://www.vertex42.com/ExcelArticles/amortization-formulas.html © 2005-2018 Vertex42 LLC

Formula Help
PMT(r,N,L)
NPER(r,p,L)
CUMIPMT(r,N,L,1,n,0)
CUMPRINC(r,N,L,1,n,0)
NewBalance = L(1-((1+r)^n-1)/((1+r)^N-1)

r : Monthly Interest Rate

n : Number of Months
N : Total Number of Months
L : Loan Amount
p : Monthly Payment

Note: CUMIPMT & CUMPRINC require the Analysis ToolPak add-in

Additional Help
The link at the top of this worksheet will take you to the web page on vertex42.com that
talks about this template.

REFERENCES

SEE ALSO Vertex42.com: Loan Amortization Schedule

SEE ALSO Vertex42.com: Home Mortgage Calculator

TIPS Vertex42.com: Spreadsheet Tips Workbook

05-2018 Vertex42 LLC
Excel Amortization Formulas

By Vertex42.com
https://www.vertex42.com/ExcelArticles/amortization-formulas.html

© 2005-2018 Vertex42 LLC

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