Amortization Schedule in Excel
An amortization schedule is a table or chart that outlines the repayment of a loan over time. It provides a detailed breakdown of each payment, showing how much of it goes toward repaying the loan principal and how much is allocated to paying interest. Amortization schedules are commonly used for mortgages, car loans, and other installment loans to help borrowers understand their payment structure and track the progress of loan repayment.