![]() Using a calculator or spreadsheet is especially necessary if you are trying to plan for a future loan and you’re unsure what the monthly payment amount will be. While this can be done by hand in a ledger, if that’s your style, there are several amortization calculators online as well as amortization schedule chart templates for popular spreadsheet programs, like Microsoft Excel. This process is then repeated, for each following month, with the new outstanding principal total used instead of the original total.
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