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Chapter 25. Using Analysis Tools: Goal S... > Creating Amortization Tables to Calc...

Creating Amortization Tables to Calculate Mortgage Payments

Excel's Table feature helps you create structured tables for calculating mortgage and lease payments, depreciation, and so on. Suppose that you want to purchase a house; you need to see the mortgage rate based on variable percentages and mortgage amounts. Here, you would use the PMT function to create a table to provide the mortgage rate, as shown in Figure 25.24. The schedule in cells F5:F19 is calculated based on a total loan amount of $100,000 on a 30-year mortgage, with percentage rates starting at 5% and increasing in .5% increments.

Figure 25.24. A simple mortgage table calculates the mortgage payments based on the interest rate and the total mortgage.



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