Type an I to change to IPMT.ħ.ğor the Balance formula, use the previous balance minus this month’s principal payment.Ĩ. Use the mouse to select the first P in PPMT in the formula bar. Use the F2 key or double click the cell in order to edit the formula. Edit the formula and change PPMT to IPMT. Calculate the principal payment.Ħ.Ĝopy this formula to the Interest Payment column. Press F4 and type the closing parenthesis. Type a minus sign and click on the price in B1. Press the F4 key three times so that a dollar sign appears before the column number. The rate is B3/12, but after clicking on B3, press the F4 key to add the dollar signs. The only difference from the PMT function is the addition of the period number as the second argument. The syntax is =PPMT(rate, per, nper, pv,, ). When you release the mouse button, choose Fill Months.ĥ.Ğnter the PPMT function, using the proper absolute references, so that you can copy the function to column D to be used for IPMT. Right-click+drag the fill handle to the last row. Ctrl+drag the fill handle to fill in the proper number of payments.Ĥ.Ğnter the first payment date for the Date. In the next row of the table, enter the number 1 for Payment.
In a blank section of the worksheet, add the column headings Payment, Date, Principal, Interest, and Balance.Ģ.Ğnsure that the formula for Balance in the first row points to the price in B1.ģ. Strategy: You can use PPMT and IPMT to build this amortization table. I would like to see my loan balance after each month’s payment. Problem: I know it is easy to figure out a monthly payment using PMT.
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