I am including the non-array formula to make you understand the formula better. You can also convert the above IMPT formula to an expanding array formula. You can use the below IPMT formula in cell E6 and drag down until it reach the cell E29. Just enter this PMT formula in cell D6 and let it auto expand to cell D29! =ArrayFormula(if(len(C6:C),-pmt($B$2/12,$B$3*12,$B$1),)) Since the payment is the same for each period (constant periodic payments) I have used an array formula to fill all the 24 periods with the PMT value. So as an alternative I am converting the above PMT formula as an array formula. You need to drag this formula down until the cell D29. In cell D6, we can use the below PMT formula to calculate the monthly payments. Payment Calculation (Monthly Payments Including Interest + Principal Payment): In cell C6, enter the below ROW formula to get the number of periods in sequential order. That means there are 24 periodic payments. In my example, the loan period is set to 2 years in cell B3. The Formulas to Create an Amortization Schedule in Google Sheets We need a 5 column table to enter the formulas. Step 2: Preparing Amortization Table Format. Please arrange the values as per the below image. Step 1: Input Values in Amortization Schedule. Here are the steps to create an amortization schedule/table in Google Sheets. No matter your periodic payments are on a weekly, fortnightly, quarterly, or monthly basis, the same formulas would help.įirst I will explain to you how to create an amortization schedule in Google Sheets that involves monthly (periodic) payments. We can use some of the financial functions in Google Sheets to create a loan amortization schedule easily. Amortization Schedule With Extra Principal Payments – Custom FormulasĪmortization Schedule Calculation in Google Sheets Using the Built-in Functions.Formulas Involved in Amortization Schedule With Extra Principal Payments.Creating an Amortization Schedule With Extra Principal Payments in Google Sheets.
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