Amortization Schedule
Amortization is a most popular term for people who plan to loan some money from bank for buying a house or a car. Amortization refers at the process of paying off a debt from a loan/mortgage over time through regular payments. A portion of each payment is for interest while the remaining amount is applied towards the principal balance. The percentage of interest versus principal in each payment is determined in an amortization schedule.
There are many types of amortization schedule tool created in excel spreadsheet you can find through internet because microsoft excel itself provide a built-in function that you can use easily to calculate your amortization or build your own amortization schedule. And this calculator is one of them.
