This spreadsheet creates a payment schedule for a fixed-rate loan, with optional extra payments. The payment frequency can be annual, semi-annual, quarterly, bi-monthly, or monthly. Values are rounded to the nearest cent. The last payment is adjusted to bring the balance to zero.

Note: This amortization schedule spreadsheet is meant for educational purposes only. We believe the calculations to be correct, but do not guarantee the results. Please consult your financial advisor or lending institution before making any final financial decisions.(No macros. Requires the Analysis ToolPak add-in.)