How to create loan amortization interest calculator of Excel template?
In modern times, it’s quite common to loan money from banks to purchase a house, to pay for tuition, or others. As we know, the loan amortization interest usually is much bigger than we think. You’d better clear with the interest before loaning. This article will show you how to calculate the loan amortization interest in Excel, and then save the workbook as loan amortization interest calculator of Excel template.
Create a loan amortization interest calculation table and save as normal Excel template
Normally Microsoft Excel saves the whole workbook as a personal template. But, sometimes you may just need to reuse a certain selection frequently. Comparing to save the entire workbook as template, Kutools for Excel provides a cute workaround of AutoText utility to save the selected range as an AutoText entry, which can remain the cell formats and formulas in the range. And then you will reuse this range with just one click.
Create loan amortization interest calculator in workbook, and save as an Excel template
Here I will take an example to demonstrate how to calculate the loan amortization interest easily. I loaned $50,000 from a bank, the loan interest rate is 6%, and I plan to repay the loan at the end of every month in coming 10 years.
Step 1: Prepare a table, enter the row headers as the following screen shot shown, and input your original data.
Step 2: Calculate the monthly/total payment and total interest with following formulas:
(1) In Cell B6 enter =PMT(B2/12,B3*12,B4,0,IF(A5="End of Period",0,1)), and press the Enter key;
(2) In Cell B7 enter =B6*B3*12, and press the Enter key;
(3) In Cell B8 enter =B7+B4, and press the Enter key.
 |
Formula is too complicated to remember? Save the formula as an Auto Text entry for reusing with only one click in future! Read more… Free trial |
Step 3: Format the table as you need.
(1) Select the Range A1:B1, merge this range with clicking Home > Merge & Center, and then add filling color with clicking Home > Fill Color and specify a highlight color.
(2) Then select Range A2:A8, and fill it with clicking Home > Fill Color and specify a highlight color. See screen shot below:
Step 4: Save current workbook as an Excel template:
- In Excel 2013, click the File > Save > Computer > Browse;
- In Excel 2007 and 2010, click the File/Office button > Save.
Step 5: In the coming Save As dialog box, enter a name for this workbook in the File name box, click the Save as type box and select Excel Template (*.xltx) from drop down list, at last click the Save button.
Related articles:
How to make a read-only template in Excel?
How to protect/lock an Excel template being overwritten with password?
How to find and change default save location of Excel templates?
The Best Office Productivity Tools
Kutools for Excel Solves Most of Your Problems, and Increases Your Productivity by 80%
- Reuse: Quickly insert complex formulas, charts and anything that you have used before; Encrypt Cells with password; Create Mailing List and send emails...
- Super Formula Bar (easily edit multiple lines of text and formula); Reading Layout (easily read and edit large numbers of cells); Paste to Filtered Range...
- Merge Cells/Rows/Columns without losing Data; Split Cells Content; Combine Duplicate Rows/Columns... Prevent Duplicate Cells; Compare Ranges...
- Select Duplicate or Unique Rows; Select Blank Rows (all cells are empty); Super Find and Fuzzy Find in Many Workbooks; Random Select...
- Exact Copy Multiple Cells without changing formula reference; Auto Create References to Multiple Sheets; Insert Bullets, Check Boxes and more...
- Extract Text, Add Text, Remove by Position, Remove Space; Create and Print Paging Subtotals; Convert Between Cells Content and Comments...
- Super Filter (save and apply filter schemes to other sheets); Advanced Sort by month/week/day, frequency and more; Special Filter by bold, italic...
- Combine Workbooks and WorkSheets; Merge Tables based on key columns; Split Data into Multiple Sheets; Batch Convert xls, xlsx and PDF...
- More than 300 powerful features. Supports Office / Excel 2007-2021 and 365. Supports all languages. Easy deploying in your enterprise or organization. Full features 30-day free trial. 60-day money back guarantee.
Office Tab Brings Tabbed interface to Office, and Make Your Work Much Easier
- Enable tabbed editing and reading in Word, Excel, PowerPoint, Publisher, Access, Visio and Project.
- Open and create multiple documents in new tabs of the same window, rather than in new windows.
- Increases your productivity by 50%, and reduces hundreds of mouse clicks for you every day!
