In the end, move to the output section which we discussed in STEP-3.Now, if we look at cell I37 we can see that the value of Balance is 0.Drag the Fill Handle tool from cell G29 to G37. Insert the following formula in that cell: Now, we will calculate the amount of ‘ TOTAL DOWN PAYMENT’ and ‘ LOAN AMOUNT’ in cells I8 and I9. You can add an extra input field if it is necessary for your calculation. Like the following image, you will create input fields in your excel worksheet. In this step, we will create an input data section to calculate the interest-only amortization schedule with a balloon payment. STEP-2: Build Input Data Section to Calculate Interest Only Amortization Schedule with Balloon Payment You can add or remove any field of information if it is necessary. This segment will consist of the necessary information about the lender and the type of loan. STEP-1: Create Lender’s Information Segment to Calculate Interest Only Amortization in Excelįirst and foremost, we will just create a segment like the following image.
It will help you to understand the steps better.
BALLOON PAYMENT CALCULATOR DOWNLOAD
We will suggest you download the excel file that we have attached with this article. Perform all the steps in a single worksheet in your excel workbook. In this article, we will follow 4 steps to create a calculator to calculate the interest-only amortization schedule with a balloon payment calculator in excel. It’s called the balloon payment because of the large size of this final payment.Ĥ Steps to Calculate Interest Only Amortization Schedule with Balloon Payment Calculator in Excel In this process, the principal is returned in cash payment at a predetermined date or in installments.Ī balloon payment mortgage is one that does not amortize completely during the duration of the loan, having left a debt due at completion.
An interest-only amortization is one in which the mortgagor ( borrower) is only compelled to pay the interest on the loan for a specified length of time.
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