A loan amortization template is a powerful financial tool that allows you to calculate and visualize the payment schedule of a loan over time. This template can be used for any type of loan, such as a mortgage, car loan, or personal loan, and helps you to understand the breakdown of principal and interest payments.
The loan amortization template is based on a series of formulas that calculate the monthly payment, interest, principal, and remaining balance of the loan. With this tool, you can see how much of each payment goes towards interest and how much goes towards paying down the principal balance.
By using this template, you can make informed decisions about borrowing and repayment, and ensure that you stay on track with your loan payments.