How to prepare an amortization schedule in Google Sheets?
Preparing an amortization schedule in Google Sheets is pretty easy with the built-in PMT, PPMT, and IPMT functions. But when you want to include extra principal payments in your schedule, you may want to follow a different approach. This tutorial covers the following two topics in detail.
How to make extra principal payments in Google Sheets?
In case you want to make extra payments, the Google Sheets built-in functions except the PMT won’t help. We have to follow a different approach here. That also not much complicated. Here also I am following the same above input values and format. But this time you must include a new column to show your extra principal payments in each period.
Can I use the same formula for periodic payments in Google Sheets?
No matter your periodic payments are on a weekly, fortnightly, quarterly, or monthly basis, the same formulas would help. First I will explain to you how to create an amortization schedule in Google Sheets that involves monthly (periodic) payments. Here are the steps to create an amortization schedule/table in Google Sheets.