I have $25,000 loan to be repaid in equal installments at the end of each of the

Question

I have $25,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 10% compounded annually. Help me to create an amortization schedule....I need to know how to calculate the Payment, Interest, Principal, and Balance using excel formulas....For example, Payment =PMT(rate,Nper,PV,FV,Type). Can you help me to get to the right amounts. I know that the first year payment is $6,594.94, first year interest is $2500, first year principal is $4,094.94 and the first year balance is $20,905.06, but I don't know how to create the worksheet in Excel showing the monthly payments and the formulas to support the amounts

Explanation / Answer

HI there , here is the link of making schedule , very good explainantion has been provided there http://www.tvmcalcs.com/calculators/apps/excel_loan_amortization plz rate me

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