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- Price: Free
- Operating system: Windows XP/Vista
- Date added: May 26, 2009
- Total Downloads: 152,450
- Downloads last week: 3,964
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- CNET editors' rating: stars
- Average user rating: stars out of 8 votes
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CNET editors' review
Reviewed by: CNET staff on May 08, 2009
Choosing your major financial purchase can be dreamy (stucco or stone? sun roof or tinted windows?) but the dream can quickly morph into a nightmare when trying to determine just how much money your loan will actually cost over time. The Amortization Schedule for Excel gives you the basic information you need so you can see just how much your dream will actually cost over time.
This freeware tool is very easy to use. Just plug in your numbers (loan amount, loan term, and interest rate) and voila, an amortization schedule quickly appears. You can easily change the variables, too. Just enter information into any box and the schedule will automatically reset to your new terms. This flexibility is especially useful if you choose to apply extra payments toward your principal at any point during your loan. (And, yes, this also works if you neglect to make that payment.) Check the rounding box and the schedule will round to the nearest cent, which lets you compare your results with many other amortization schedule programs.
The Amortization Schedule for Excel is very matter-of-fact, which is probably what you want in such a sobering enterprise as the spending of your hard-earned money. This schedule is for fixed rate loans only, and accommodates up to 780 payments, generous enough for most loans, weekly and otherwise. This is truly an amortization schedule; look elsewhere if you want a calculator that includes other expenses such as anticipated taxes and insurance.
No need to install the Amortization Schedule for Excel as it is already accessible after extraction. And what it lacks in pizzazz, this simple utility makes up for with solid data and ease of use.
Publisher's description
From Vertex42 :The Amortization Schedule for Excel spreadsheet creates an amortization schedule or payment schedule for a fixed-rate loan, with optional extra payments. The payment frequency can be annual, semi-annual, quarterly, bi-monthly, monthly, semi-monthly, bi-weekly, or weekly. Values are rounded to the nearest cent, or the rounding can be turned off. The last payment is adjusted to bring the balance to zero. The compound period can be set based on US or Canadian mortgages. You can select whether payments are due at the end or beginning of the payment period.
What's new in this version:
Version 1.6 can make multiple copies of the loan schedule within the same workbook allowing you to compare different loans.
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User reviews
- Average user rating: 3.9 stars out of 8 votes
- My rating: 0 stars Write review
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Showing 5 of 8 user reviewsSee all 8 user reviews
This software version | All versions -
Version: Amortization Schedule for Excel 1.6
"I could save it as a file for reference."
Pros: It gave a schedule, but I was not able to print it or enter a payment, only number of months.
Cons: It gave a schedule, but I was not able to print it or enter a payment, only number of months.
Summary: It did the basics of what I needed..... and it was free.....
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Version: Amortization Schedule for Excel 1.6
"Good if you want to know what your payments will be."
Pros: Allows lump sum payments. Will amortize to end of mortgage.
Cons: Will not allow you to put in your own payment amount. Needs an option to calculate what payment would be, or to use a specified payment.
Has a strange way of printing out annual lump sum payments. Prints them monthly and then applies it annually. -
Version: Amortization Schedule for Excel 1.6
Pros: straightforward and easy to use
Cons: unable for e-mail recipient to open...password protected. I had to print it and snao; mail it to him.
Summary: The program does what it says it will do. It would be nice to have some variable input options, such as payment amount then the schedule, but this is free and it works as it says it will.
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Version: Amortization Schedule for Excel 1.6
Pros: easy to use
Cons: would not save on my hard drive
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Version: Amortization Schedule for Excel 1.6
Pros: it was like cheating to set it up..
Cons: NO CONS..........
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