Morgan Community College - Study Guide & Appendices - Making Your Cash Flow Budget 20
Appendix E
Using an Amortization Schedule
to Estimate Principal to be Paid
If you have a spreadsheet program such as Microsoft Works or Microsoft Excel, you can
use an amortization template to get an accurate estimate for how much principal you will
be required to pay on non-current loans. We have provided copies of the template for
various spreadsheets on the Curriculum CDROM.
The image below shows the Amortize tab in the Loancalc spreadsheet. Put in the
appropriate information in the top section, and you will get a schedule that shows the
principal and interest breakdowns for each payment. In most cases this will be off a few
cents from a mortgage company’s amortization shedule. If you already have such a
schedule from a lender, you should go with those figures. But if not, this will get you a
very accurate estimate.
