The Loan Amortization Schedule spreadsheet It assumes that you have some basic knowledge about loan amortization, Microsoft Excel and Microsoft Visual Basic for Applications. The aim of this document is to describe the use and customization of the Loan Amortization Schedule spreadsheet provided by ConnectCode. All these information can be easily illustrated using a Loan Amortization Schedule. Other information like how much total interest he will have to incur, the total principal loan amount outstanding at a specific point in time and whether he will be able to afford the loan if he shorten the total loan period will also be of interest to the borrower.
When the loan amount is repaid by parts over a certain amount of time, the loan is called an amortized loan.Ī borrower will typically be interested in knowing how much he will have to pay periodically if he takes up a loan of a certain amount over a certain period of time.
At the same time, the lender will expect to receive interests from the borrower as a reward of undertaking the risk to lend out the money. When a lender like a bank extends a loan to a borrower, provisions will be made for the borrower to repay the loan amount some time in the future or in parts periodically.
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