![]() The monthly periods in the first column are based on the monthly periods on the Summary sheet. All the calculations on this sheet are automated.įorecastPmt - all forecasted ad hoc loan repayments should be recorded on this sheet. InitialAmort - includes an initial loan amortization calculation that is based on the principle loan amount, interest rate, loan period and repayment commencement date that is specified in cells D3 to D6. ![]() User input is limited to selecting the appropriate loan review date. This sheet can be used to calculate the outstanding loan balance and cumulative interest charges at the end of any month that falls within the loan period. The loan repayment forecast is based on a standard amortization calculation that is applied to the outstanding loan balance on a user defined review date as well as a loan amortization forecast that accommodates ad hoc loan repayments. Loan account transaction totals are compared to an initial loan amortization calculation and a forecast of the remaining loan repayment period is added to the transaction totals and then also compared to the initial loan amortization schedule. Review - includes a comprehensive analysis of loan account balances and interest charges over the entire loan period. Summary - includes a monthly summary of loan account transactions that is calculated from the Statement sheet. Note that the Statement sheet includes 12 columns but only four of these columns require user input (the columns with the yellow column headings). All the interest and loan account balance calculations in this template are based on the transactions that are recorded on this sheet. Statement - all loan account transactions should be recorded on this sheet. Additional transaction types can also be added to the default list of transactions codes. TransCode - includes the default transaction types that need to be selected when entering loan account transactions. ![]() The main purpose of each worksheet is as follows: If you are only interested in loan amortization calculations, we recommend that you download our free Loan Amortization template. The Loan Statement template only includes the statement and summary features of this template and is therefore a lot simpler to understand and use. Note: Refer to our Loan Statement template for a simplified version of this template. In addition, the template also includes comprehensive forecast features which provide users with the functionality to analyze any loan over the entire loan period. The template accommodates multiple interest rate changes (variable interest rates), increased instalments and ad hoc loan repayments. This template can therefore be used to recalculate the amounts on the loan account statements that are received from financial institutions. The main purpose of this template is to calculate loan balances and interest amounts based on the same calculation methodology that is applied by most financial institutions. The template was specifically designed for home loan calculations but can be used for any loan where the principles of monthly repayment and daily interest are applied. This template enables users to calculate, analyze and forecast the monthly loan balances and interest charges relating to any loan that is subject to monthly repayment and daily interest calculations.
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