You can run amortization payment calculation until 180 months. You can select respective cells to see the formulas that have been created. At the bottom of the table, you can see the remaining balance that you need to pay when the loan payment period is reached. In amortization schedule table, you can see all calculated amount per month broken down into balance, principal, interest and payment amounts. But, you can customize it since there is no protection in this spreadsheet. Because this is a rough calculation, there are no fields set for other initial payment like insurance or down payment. #Loan calc with balloon payment plusIn 2nd table, you will see monthly and total payment where it consists initial loan amount plus total interest. You will see all calculation in the second table and its amortization schedule calculation below it. Those blank fields above have green color in the background. Number of installment months that you plan to pay before paying the remaining balance off.Period of your amortization, commonly it is longer than payment period.Bank/financial institution offered interest per year.Amount of your loan in Loan Amount field.Just type required information in respective cells below : It is intended to give you a simple illustration on this type of loan payment. This balloon loan payment template is a simple excel tool to help you calculate it roughly. The low interest will tempt you to take it, but if you don't calculate it correctly, your total payment could make you pay more. If you are a person who must decide on getting that loan, it is recommended that you calculate this very carefully. It will cause them to pay higher interest than normal loan payment interest. And they may decide to ask for changing to common loan payment. There are risks for agreeing with this type of loan, especially if people couldn't pay the agreed balance at the end of loan period. For example, they have invoices that will be paid when their projects are completed. This type of loan is usually taken when people or companies are confident that they will have those big amount of money on particular time. Small amount in the beginning but leave a very big amount at the end of loan period. It is called balloon because this payment method can be described as inflatable balloon. Common payment term for this payment method is Balloon Loan Payment. In this method you must decide to pay the loan off before you are approved to get the loan. It is different from general loan payoff. I just found out that I haven't created a loan template that will simulate a loan with possibility of paying the loan off after specific period. In this site, you can find several loan spreadsheets that should help you evaluating your financial situation when you plan to purchase a new house or vehicles.
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