This will give you the value of your amortization payments which you can drag down the rows to autofill. Some of them use creative Excel formulas for making the amortization table and a couple allow you to manipulate the schedule by including extra payments. EMI equated monthly installment is the monthly amount paid by the loaned principal.
Excel formula for Amortization 1.
We use the PMT function to calculate the monthly payment on a loan with an annual interest rate of 5 a 2-year duration and a present value amount borrowed of 20000. Amortization is Calculated Using Below formula. In Excel you could calculate the monthly payment using the following formula. We use the formula 1 B5 is 12-1 1 0294 12-1 to obtain the annual rate of our loan which is 358.