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Loan Amortization Schedule

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This Loan Amortization Schedule sets forth a spreadsheet to calculate the principal and interest payments on a loan. The user should only populate the cells for: the loan amount, annual interest rate, loan period in years, number of payments per year, start date of loan, and optional extra payments. The spreadsheet will automatically calculate, based on these user inputs, the beginning balance, scheduled payment, extra payment, ending balance and cumulative interest on the loan. This spreadsheet should be used by borrowers to assess whether they will have the ability to make the scheduled principal and interest payments due on a loan.

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