Do you want to calculate loan amortization schedule in Excel? We can use PMT & SEQUENCE functions to quickly and efficiently generate the full loan amortization table for any number of years.
Set up input section for loan amortization table
First, you need to set up the parameters for calculating loan schedule. We need below information.
- Interest Rate (annualized)
- Loan duration (in years)
- Payments per year (for ex: 12 for monthly, 52 for weekly and 26 for fortnightly)
- Loan amount
For the sake of the example on this page, I am using 5.35% annual interest rate (cell D3), 30 years loan duration (cell D4), 12 payments per year (cell D5) and $100,000 loan amount (cell D6).
Write formulas to calculate the amortization schedule
Then, we need to calculate the amortization schedule or table. For this we can use the PMT, IPMT, PPMT functions along with SEQUENCE dynamic array function.
Setting up the amortization schedule in Excel Grid
First create a range of cells like below to do all the calculations.
Formula for generating all payment periods
To generate all payment periods, we can use the SEQUENCE function below.
For example, if you have 12 payments per year for 30 years, then the sequence function below generates numbers 1 thru 360.
=SEQUENCE(D5*D4)
Calculating the equal payments for each period
We can use PMT function to calculate the equated payment or installment amounts.
The syntax for PMT function is
=PMT(rate_of_interest,number_of_payments,
amount_borrowed)In our case, as we have 12 payments per year, we need to divide the interest rate by 12 and multiply the number of years with 12. Finally, we want the same amount for all the periods. So our PMT formula will be:
=IF(C10#>0,
PMT($D$3/D5,D4*D5,D6))
Calculating the Principal portion
of each payment in the amortization schedule
We can use PPMT function to calculate the principal paid at each point of time. The syntax for this is…
=PPMT(
rate_of_interest,
payment_number
total_number_of_payments,
amount_borrowed)As we need to calculate this value for all the periods, we can use the SPILL RANGE in C10# as the payment_number.
Our PPMT formula looks like this:
=PPMT(D3/D5,C10#,D4*D5,D6)
Formula for Interest portion for each payment in amortization schedule
We can use IPMT function to calculate the interest portion in our schedule. The syntax and logic are same as PPMT.
Here is the IPMT formula to use:
=IPMT(D3/D5,C10#,D4*D5,D6)
Formula for Balance at the end of each period
The final formula in our amortization schedule is balance. For this, we can use a variety of Excel formulas. I particularly like using SCAN function for this as this is simple and automatically scales up or down depending on how many payments we make.
SCAN is a new Excel 365 function that scans a list or array and runs a calculations on it. Then it returns the results the values for each step of the calculation.
Example of SCAN:
=SCAN(0, A1:A10, SUM)
Result:
Returns the running total of the values in A1:A10
Explanation:
- SCAN starts the calculation with 0.
- Then it reads the values of A1:A10, one at a time.
- It then adds the values to 0 (because the third argument is SUM) and returns the intermediate results.
- So, the results will become:
- First value: 0+A1
- Second value: first value + A2
- Third value: second value + A3…
Learn more about SCAN function here.
We can use below SCAN function to get the balance at the end of each payment in our amortization table.
=SCAN(D6,E10#,SUM)
This function will start the calculations with D6 (amount borrowed) and scans thru the principal paid column (E10#) and calculates the running total of balance by using the SUM function.
Calculating SUMMARY of Amortization Table
Often, you may want to calculate the summary from an amortization table like below:
We can use simple arithmetic formulas like SUM or division (/) to calculate such values.
As you can see, with a 30 year payment of $100,000 loan at 5.35% interest rate, more than half of the payments (50.26%) go towards interest.
Limitations of Amortization Schedules
While amortization schedules are great to understand and model cashflows (or plan for future payments), they are quite rigid and do not reflect real-world scenarios. Here are a few limitations of this approach.
- Amortization tables assume interest rates stay same for the entire duration.
- They do not cater for excess payment. If you want to prepare an amortization or loan schedule with excess payments, use this template.
- The calculation does not consider any fixed or recurring fees or charges (such as loan administration charge once a year).
Download Loan Amortization Schedule Excel Template
Please download my loan amortization schedule template and use it to see the schedule for your data.
If you have an older version of Excel (other than 365), use the “non-365” worksheet to run the calculations.
Other Loan Calculators & Schedules
- If you want to test impact of excess payments on the amortization, try my loan schedule with excess payments calculator.
- Not sure how much you can borrow? See my Interactive Mortgage Calculator with Excel form-controls.
Have a question about Amortization Schedule Template?
Leave a comment with your question so I can help you.
27 Responses to “9 Box grid for talent mapping – HR for Excel – Template & Explanation”
Great stuff! I can understand how to add a slicer to the pivot table, but how do you implement the departmental selector on the 'Filter' formula scheme?
Just saw this on your Youtube channel, and it’s areat idea...!
An easy way to overcome the "ugliness" of pivot tables and get it to look nice (in the format of the Output sheet), would be to simply build a sheet with the nice map at the top, a pivot underneath it and a slicer next to formatted map and then reference each of the 9 cells in the formatted map to the “related” cell in the Pivot.
Keep up the good work!
/Claus
Thanks Claus. That is a great idea 🙂
Hi Chandoo,
This is great! Curious how to make additional columns operate the same as the Department column (ex. have a "manager column") that would allow you to sort a 9 box by manager, area, or team in addition to department?
Feel free to email me if needed! mfry01@minnetronixmedical.com
Happy New Year
Madison Fry
I am curious about the smae thing. I would like to populate the 9 box with other views as well by adding additional columns. IE., I would like to add location, region, etc. Thank you.
This is great, thank you!
How can i see the whole data set of all the teams in the output table. Need a formula that will pick up all the employees
Hello,
Love the template. Thank you. Question - the drop down to pick a department on the Output tab does not seem to work on the downloadable template. Am I doing something incorrectly?
Thank you!
Hi Heather... Thank you. I am using Excel 365 to make the calculations. If you are using an older version of Excel, then the drop-down filter won't work.
Hi
I was able to follow your 9 box grid and modified based my needs. However, you tutorial did not show how to you create the filter for the "Pick a department. Can you kindly share how to create that filter that updated the grid. Thank you.
I am working on this project but I am struggling with the data validation for the department. I copy the worksheets data entry and output as the managers want to see different tabs for each managers.
I updated the source reference for each tab but It does not update the grid based on the new source. The list was updated but it does not populate the grid based on the performance and potential listed.
In addition the hyperlink Update Data and View Talent Map no longer works. Can you please help me.
I keep getting this error message in the pivot table:
This formula is invalid or incomplete: 'The expression is not valid or appears to be incomplete. Please review and correct the expression.
The following syntax error occurred during parsing: Invalid token, Line 1, Offset 14, ‘.
Hi, I used your 9-box excel template with excel 365. First off, thank you so very much. It is incredibly helpful!! My only question is that the boxes aren't big enough for all of the employees (specifically the middle which we call 'Core Employee'). Is there a way to make the boxes larger? Even though it is in excel, I am not able to increase row height (like I normally do in a speadsheet). Any ideas? Thanks again, Jody
Hi Chandoo,
Thanks for the great content. Re. 9 box grid, pls advise how do I increase the size of the box to accommodate more names?
Hi Chandoo,
I figured it out. Excel 365 has the format row height on the ribbon. Thank you
Merci Chandoo pour le modèle proposé,
j'ai une question et un souhait est il possible de développer davantage ce modèle en insérant la photo de chaque employé.
Hi Chandoo!
Great tutorial and tool, thank you! Your tutorial didn't include how to create additional filters on the "Output" tab. Could you please share how you did it?
Can this be done exactly in google sheets?
Hi Chandoo,
Thanks for the video it was really helpful. Is there any way to multi select the dropdown to display multiple or all departments rather than just one at once?
Hello Prish
I have Microsoft 365 and I am struggling to make the boxes larger/unable to increase row height; any idea how you made this work? Specifically in the Output tab where the map is?
Many thanks
Hello Jody, I have Microsoft 365 and I am struggling to make the boxes larger/unable to increase row height; any idea how you made this work? Specifically in the Output tab where the map is? Many thanks
Is there a way to change the 9 box wording descriptions, i.e. Work Horses, to our own internal langauge?
You can edit the file. The descriptions are textboxes.
Hi Chandoo, this is awesome and has worked perfectly. Due to a big organisation the 9 box grid on the output file is too small. I tried adjusting using the row/width ribbon under the format ribbon however it doesn't seem to work. Is there an easier way to adjust this?
Thanks!
When I drag the formula, it doesn't work, and the order I use with the data changes. In the beginning, the order is it is " candidates," " potential," and " performance," but when it goes to another column, it is " Potential," Performance," and "Candidates."Can you help me? Thank you very much, sending love from vietnam
Hi- I am working on the 9 grid project and I am trying to expand the box since I have over 100 names on a few of the columns. How do I do that?
Hi, Thank you this is great stuff and really useful.
As well as department as demonstrated on your clip, how can I display all candidates on the grid at once?
Many thanks in advance