Simple Interest Amortization Schedule- I am trying to model this horizontally

I am trying to model a simple interest amortization schedule horizontally. I am trying to do this for multiple loans on a single spreadsheet. I am trying to do it in a way that each loan has its own single row going out 360 payments. Need help with set up and formula. Any advice would be greatly appreciated.

Hi

I have attached a sample file to give you the calculation that you need. 360 columns with say 1000 customers makes for a rather large and prone to error worksheet.

How about

Customer, Address, Account Numger, Start Date, End Date,Loan, Term,Intrest,Monthly Payment, Total Amount. as your headings.

Hope it helps

Chris

Thank you for replying to my post Chris, but I need it to amortize a simple interest loan horizontally. I appreciate your help but I am aware of the formula you posted. I need to be able to amortize a simple interest loan horizontally. My main problem is how to amortize a simple interest loan since the interest is calculated daily. Please correct me if I am wrong.

Hi

Thought my answer was to simple. As far as loans are concerned if you are quoting or have quoted an APR ie borrow 5000 over 5 years at 6% APR the A is for annual and not daily, hence the PMT function having the APR divided by 12 for the monthly payment, which means all you need to add is 360 columns for each payment Perhaps you could have a sum at the end of the 360 cols therby any missed payment or overpayment will also be taken into account. Im a glutton for punishment so I will have a play and see what I come up with. Can you post a worksheet with all the information you need on the sheet so that my sheet will at least fit in with what you want.


Chris

Hello Chris,
I have attached the spreadsheet. I am trying to creat an amortization schedule so that a simple interest loan and a ARM loan can all be on a single spreadsheet. I am trying to figure out how a simple interest amortization schedule should work. Should it be broken out by days instead of months since interest is calculated daily?