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It's pretty simple to create a loan amortisation schedule if you know the loan's monthly payment. Beginning with the first month, multiply the entire loan amount by the loan's interest rate. Divide the result by 12 to find your monthly interest on a loan with monthly instalments.

There are some significant distinctions. The level of information is the fundamental distinction between the two types of schedules. The amortisation plan divides a payment into the amount paid in interest and the amount paid in principal, whereas the payment schedule does not.

Excel keeps track of dates as serial numbers that can be utilised in calculations. Because it is 39,447 days after January 1, 1900, serial number 1 is assigned by default, and serial number 39448 is assigned by default. The majority of routines convert date values to serial numbers automatically.

The day is represented by the integer portion of the date serial number, while the time is represented by the decimal portion. The date serial number 1 begins on January 1, 1900, i.e. 1/1/1900 has a date serial number of 1. Caution! After February 28, 1900, Excel dates are one day out.

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