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amortization schedule

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    Post amortization schedule

    I created a amortization schedule based off of a mortgage amortization so it is "front loading" the interest; however, I was asked to have this sheet calculate the interest in the first two years. Can anyone help me please with this? I am a little lost on how to calculate the interest in the first two years but keep everything else updating. I have uploaded my sheet. Any help would be MUCH appreciated.

    Hrrmmm, I can't attach a sheet for some reason? Would anyone know why?

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    Forum Moderator 6StringJazzer's Avatar
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    Re: amortization schedule

    The paper clip icon does not work for attachments. Instead, under the text box where you type your reply click the Go Advanced button. On the next screen scroll down and click on Manage Attachments, which will show a pop-up window to Select and Upload a file. Then close the window.
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    Re: amortization schedule

    I believe I added the attachment. Thank you for the help with this!
    Attached Files Attached Files

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    Re: amortization schedule

    calculate the interest in the first two years...but keep everything else updating.
    I don't understand the question. You have an amortization schedule which shows interest for every month for 60 months. You would just add the interest from months 1-24.

    =SUM(G10:G33)

    What am I missing?

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    Quote Originally Posted by 6StringJazzer View Post
    I don't understand the question. You have an amortization schedule which shows interest for every month for 60 months. You would just add the interest from months 1-24.

    =SUM(G10:G33)

    What am I missing?
    Sorry about not explaining it well. I need the ammorization to be for two years on the interest no matter the term, so for example anything over 24 months all the interest will be paid in the first 24 months.

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    Re: amortization schedule

    Quote Originally Posted by cstewart83 View Post
    Sorry about not explaining it well. I need the ammorization to be for two years on the interest no matter the term, so for example anything over 24 months all the interest will be paid in the first 24 months.
    I have never heard of a loan that pays all the interest up front. A "front-loaded" mortgage is the standard mortgage where your payment is made up of the interest due on remaining principal for that month, plus whatever principal is needed to complete the payment amount. That type of mortgage is considered front-loaded because the interest part of the payment starts out high then gradually decreases as you reduce the principal.

    The type of loan used when you just pay interest is the balloon mortgage, where you pay only interest for, let's say, two years, then at the end of the two years you owe a single balloon payment of all the principal (the strategy there is typically to refinance rather than actually make the balloon payment).

    I have never heard of a loan that pays all the interest in the first 24 months the continues to amortize the principal. I know how to do the arithmetic for all this but from a business standpoint it is not making sense and I want to clarify where you are getting your requirements from before I spend a lot of time on this.

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