Amortization Schedule for a Loan

Create an amortization schedule for a $100,000 loan over 30 years with an interest rate of 8% compounded monthly and a monthly payment of $733.76.

Although all the values are known regarding the loan, MoneyTime can create an amortization schedule only after a value has been successfully calculated. So for this example we will calculate the monthly payment.

Enter the following values in the input fields:
Present Value = 100,000
Future Value = 0
Periods = 360 (i.e. 30 x 12 = 360)
Periods/Year = 12
Interest Rate = 8
Set Payment/Deposit Timing for End.

Notice that the Detail button on your MoneyTime screen is currently disabled.

Now click the Payment/Deposit button.

The monthly loan payment will be $733.76 as expected. See the screen snapshot below:

Notice after this successful calculation that the Detail button is now enabled on your MoneyTime screen. This means MoneyTime can now create an amortization schedule for this scenario.

Now click the detail button to view the amortization schedule as show below:

The format of the amortization schedule can be changed by closing the screen to return to the MoneyTime main screen. From there select tools-options to change the format. After making the changes, click the Detail button again to see the schedule in the new format. An example of a different format would be to show a date column as the period instead of a sequential number, or to show a principal column instead of a total interest column.

Examples

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