CNET Editors' review
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.
More Popular Personal Finance Software downloads
- Amortization Schedule for Excel
2,400 downloads
- Quicken Deluxe 2012
830 downloads
- Moffsoft FreeCalc
777 downloads
- AceMoney Lite
775 downloads
- Home Budget
626 downloads
-
All versions:
4.1 starsout of 21 votes
-
Current version:
4.1 starsout of 21 votes
-
My rating:
Write review
-
"Fabulous! Easy for anyone to use."
Version: Amortization Schedule for Excel 1.6
Pros
Ease of use.
Cons
None--it was exactly what I was looking for.
-
"Great Schedule!"
Version: Amortization Schedule for Excel 1.6
Pros
Runs Smooth
Cons
Can't think of any
-
"Simple, straightforward, free"
Version: Amortization Schedule for Excel 1.6
Pros
It does exactly what I need very simply. Why make it more complicated than necessary? I had it figured out in one minute, max.
Cons
Not quite intuitive at first, but the learning curve is very quick.
Summary
What's not to like? Plug in the numbers and save!
-
"It works as it shoudl"
Version: Amortization Schedule for Excel 1.6
Pros
Easy to use
Cons
None I can find yet
-
"Basic simple no bling-bling"
Version: Amortization Schedule for Excel 1.6
Pros
The schedule is nothing fancy. It does what is says.
Cons
Not able to input actual payment amount. Therefore, the amounts will not compare exactly as the billing statement.
Summary
Provide enough information to determine what to expect.
-
"Amortization Schedule and Prepayment Calculator. A+"
Version: Amortization Schedule for Excel 1.6
Pros
Gives me allowance to add additional prepayments for each month
Cons
No total line after additional prepayment field filled out, but it's not that important.
Summary
straight, down to the point, gets the job done right and fast.
-
"OK for basic amortization"
Version: Amortization Schedule for Excel 1.6
Pros
works well
Cons
doesn't allow missed payments, actual date of payment, year end summaries...
Summary
I needed a full service amortization program and wound up buying one.
-
"Easy, simple, accurate"
Version: Amortization Schedule for Excel 1.6
Pros
Minimum data to enter to see results, flexible to work with additional lump sum payments
Cons
None I could see.
Summary
Excellent tool /spreadsheet to use in Excel if you need an amortization table.
-
"30% DISCOUNT COUPON found today"
Version: Amortization Schedule for Excel 1.6
Pros
Powerful and easy-to-use personal finance software.
Cons
Nothing to dislike.
Summary
I tried a lot of personal finance software, but this one is really the best. It supports many new functions.
http://download.cnet.com/neutral-trend-trademax-premier/3000-2047_4-10976959.html -
"Very nice spreadsheet application"
Version: Amortization Schedule for Excel 1.6
Pros
2 different ways to keep track of loan payments. I like the 2nd sheet much better.
Cons
I graph would have been great addition, but i like the fact that it does the job we need without frills.
Summary
Very easy to use and very handy tool
Add Your Review
Submit your reply
E-mail this review
Report offensive content
See more CNET content tagged:
Previous Versions:
