Check out Quattro Pro, Corel’s spreadsheet program! And yes. Excel has amortization templates and maybe I will blog about them – but not it is not this day! (I just watched Return of the King) With Quattro, this is WAY too easy! Check it out!
(In Quattro 9, 10, 11 and 12) From the menu, select Tools, Numeric Tools, and then Analysis Tools. The second item is Amortization Schedule. Select it and a dialog box will be displayed:
Output Cells: This automatically fills in, so leave it & see if it works for you before you modify it.
Interest Rate: you know what to do.
Term: (years): yet again, you are smart – go for it.
Original: Enter the original loan amount.
Ending Balance: what? I’m thinking zero?
Last Year: Enter last year you need to see.
Choose “Finish” and in a FLASH, you see your results!