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.