This dude absoltely knows what he's talking about. Clear step by step directions, along with explanations. Would not have been able to complete my project without him. Thank you so much
Wish I knew you because I'd give you a big hug for this post. I was asked to create one for a loan my husband took from a friend for his donut shop. Mind you, I'm a former chemist who now does the books for him and had NO IDEA where to start. I worked along side your video and not only is it done, I understand it, which is even better. Huge huge thanks.
This is one of the best instructional videos I’ve ever seen. I feel like some kind of Excel wizard but I just followed along with the video - the Tutor tells you what formula to type and cell numbers to input! Genius level teaching. Thank you so much !
You have got to be one of the best teachers, not just on UA-cam, but also in person. Your tutorials have helped me in so many subjects - quantitative methods, statistics, algebra, calculus, and now Excel!! You're earned my like and subscribe. Thank you and keep up the great work!!!
I don't generally comment on videos, but this was so clear, so easy to follow and so helpful I had to comment. Thanks for taking the time to do this. Using the PPMT and IPMT values was driving me crazy. And I needed refreshing about keeping some cells constant! Huge help and much appreciated.
Nice video, it really helped me. I used this template and added an "additional payments" column as well, which I noticed others did in the comments. I think most people interested in this kind of information are also interested in how beneficial some additional payments can be, even if they are small. Thanks again!
To clarify for those interested, add one more column below "mortgage payment" in D4. I titled this "additional payments"... next make the Ending Balance formula "=C7-F7-$D$4"... you will have to also modify the "Payment" formula to "=$D$3+$D$4"...hope this helps.
I always wondering who are you. You’re so kind, everything you teach really help me out from any curiosity. Thanks a lot for your videos. Btw, it’s a pleasure if I can know you 😁.
The only issue I see is that interest rates vary each time you renew your mortgage, so it could mean you're paying more, or less than the original amount. You made it absolutely clear to people who have never done any accounting or bookkeeping, how to use Excel. I love playing around with Excel. It's cool to see how you can play with numbers. I have sheets I've set up for my income taxes, and it makes everything so much easier. I guess you could call me a nerd, lol!
thank you, i'm going to use this to educate my children. i don't want them to get sucked into a 30 year amortization, we should only buy a home with 15 year amortization.
This is awesome! Though, if you have an escrow account, you have to add that to your payment for each month, and I added a column for extra payment toward my principal. Thank you for making a baseline product for us all!
Congrats on being the first google result when I search, "how to make an amortization schedule in excel" Let's say that again for the great algorithm in the sky: "how to make an amortization schedule in excel" One one more time for good measure and SEO: "how to make an amortization schedule in excel" Good job
Thanks it was exactly what i was looking for. Very easy to understand and follow. I have a question. What if I get a payment dedicated to reducing the principal? How does that fit in to this equation? Thanks!
Excellent video: unhurried, patient voice, good explanations, and thorough. Now that you have helped me create a basic amortization schedule, can you direct me to instructions for additional principal payments as well as a bi-weekly schedule?
JG, Thanks for this informative important video. Would consider making a video adding to this information, but an additional payment is made later in the month to lower the principal. How is interest and balance calculated?
If the rate per annum is 5%, then the monthly rate is not 5%/12. Interest that accrues on an annual basis does not equal interest that accrues on a monthly basis, because there is more time for the monthly accrued interest to compound.
Great video! Paused the video and did what you said. I know what my monthly payment is so I didn't doo a formula for the payment. Near the end of the table once finished I started getting negative numbers as if there was an overpayment. I did adjust the field in the interest column to only have 2 digits. I think the cell rounded up. How do I fix this? Keep the 7 or 8 places after the decimal on the interest?
So 360 months/30 years to pay off a mortgage of 300k at a monthly payment of 1,600 ish, and by doing this table you can keep track of your own mortgage, cool thx for the info 👍
Really nice explanation, but you could've saved yourself all typing after the first row if you started by using string variables and just used the drag to copy function. Also, personally, I like to add 1 more column that I call "Additional Payment" where you can enter in any amount in any month that you add to your minimum payment. This allows you to see how much faster you can pay off a loan if you pay more than the minimum amount. It lets you see exactly how much you can save on overall interest if you put more money towards your payments.
This response is EXACTLY the reason I'm creating this spreadsheet, so I can work it out as I go ha ha and see how much I can save myself in the long run by making ad hoc payments (under the penalty charge threshold). :)
Hi JG, Thank for your video. How about if my mortgage payment is bi weekly/ and how can I input the additional prepayment in the sheet. And as per your video is a fix Rate, how about the Variable Rate, how do we calculate?
Among all the bullshit people have on UA-cam.....making them rich out of it...This guy, the Organic Chemistry Tutor, should be receiving all the payments, all the money he wishes...His contribution to better humanity has been far more significant than the one "done" by the 95% of all politicians in the world.
Final Exams and Video Playlists: www.video-tutor.net/
what if you do extra payments a month
You got me through calc and physics and now you are about to help me figure out how to pay these student loans, best UA-cam channel ever!
Truer words never been spoken lol. This guy is awesome!
Thank you and I hope everyone tells you how much you helped them.
This dude absoltely knows what he's talking about. Clear step by step directions, along with explanations. Would not have been able to complete my project without him. Thank you so much
Wish I knew you because I'd give you a big hug for this post. I was asked to create one for a loan my husband took from a friend for his donut shop. Mind you, I'm a former chemist who now does the books for him and had NO IDEA where to start. I worked along side your video and not only is it done, I understand it, which is even better. Huge huge thanks.
This is one of the best instructional videos I’ve ever seen. I feel like some kind of Excel wizard but I just followed along with the video - the Tutor tells you what formula to type and cell numbers to input! Genius level teaching. Thank you so much !
You have got to be one of the best teachers, not just on UA-cam, but also in person. Your tutorials have helped me in so many subjects - quantitative methods, statistics, algebra, calculus, and now Excel!! You're earned my like and subscribe. Thank you and keep up the great work!!!
I don't generally comment on videos, but this was so clear, so easy to follow and so helpful I had to comment. Thanks for taking the time to do this. Using the PPMT and IPMT values was driving me crazy. And I needed refreshing about keeping some cells constant! Huge help and much appreciated.
Please make a video on How to make Nuclear bomb at home.
Then North Korea greatest opponent is going to be this tutor nice.
😂
😂😂
From an excel novice, thank you for the clarity and conciseness of this very helpful instructional video. Well done!
I haven't used excel in a while and this was really a big help, keeping my cells constant. Thanks for the tutorial.
Nice video, it really helped me. I used this template and added an "additional payments" column as well, which I noticed others did in the comments. I think most people interested in this kind of information are also interested in how beneficial some additional payments can be, even if they are small. Thanks again!
To clarify for those interested, add one more column below "mortgage payment" in D4. I titled this "additional payments"... next make the Ending Balance formula "=C7-F7-$D$4"... you will have to also modify the "Payment" formula to "=$D$3+$D$4"...hope this helps.
Hands down, first time doing this and I managed it. Thanks you
I must say a big thank you, you just made my life easier with calculating my loan interest and repayment...lots of luv from🇬🇾🤗
Amazing!! So easy to follow !!! I did it for my mortgage, car payment, etc! and even included a line for 'extra' payments. Thank you!!!
This is the best Video on the internet it is slow enough to follow along and simple, You did a GREAT Job!
I always wondering who are you. You’re so kind, everything you teach really help me out from any curiosity. Thanks a lot for your videos. Btw, it’s a pleasure if I can know you 😁.
lets smoke a blunt with him
An ordinary human bean
I'm impressed and thankful. Explained clearly and simply. Well done!
Wow, just shows how interest really adds up when the principal is high. Best to bring that principal down as fast as possible.
what are you talking about lmfao
lmao, ever heard of leverage?
The only issue I see is that interest rates vary each time you renew your mortgage, so it could mean you're paying more, or less than the original amount. You made it absolutely clear to people who have never done any accounting or bookkeeping, how to use Excel. I love playing around with Excel. It's cool to see how you can play with numbers. I have sheets I've set up for my income taxes, and it makes everything so much easier. I guess you could call me a nerd, lol!
I learned how to do this by hand in math class a looong time ago but this video is awesome and super easy to follow! Thanks
This channel is complete😘 everything you need is here...
Dude you explained it so good. One of the best tutorial videos ive ever watched. Gongrats really. You have a gift
You literally saved me from this math assignment!!!!! I love you😩😩😩😩🕺🏾🕺🏾🕺🏾
god bless you sir. my TA explained how to do this in a way that nobody could understand. youtube teachers win once again
THANK YOU SOOOOOO MUCH BUD. I knew the annuities concept. Fusing that and this. It's just paradise now.
This guy is a full living school
Yes
I really want to say thank you for this. It helped me a great deal. I have liked and subscribed. Simple and enjoyable to follow through.
Thank you for doing this video! Very well presented. Keep up the great work!
tnx men, u should get the teaching version Oscar, much appreciated
This explained the amortization schedule better than my accursed 200 dollar textbook. Thank you
thank you, i'm going to use this to educate my children. i don't want them to get sucked into a 30 year amortization, we should only buy a home with 15 year amortization.
The explanations in detail are highly appreciated. Thank sir...
This is awesome! Though, if you have an escrow account, you have to add that to your payment for each month, and I added a column for extra payment toward my principal. Thank you for making a baseline product for us all!
Congrats on being the first google result when I search, "how to make an amortization schedule in excel"
Let's say that again for the great algorithm in the sky: "how to make an amortization schedule in excel"
One one more time for good measure and SEO: "how to make an amortization schedule in excel"
Good job
HA!!! I Appreciate this video & the awesome person or team who created it. I can now make an amortization for a vehicle & a mortgage.
Thanks it was exactly what i was looking for. Very easy to understand and follow. I have a question. What if I get a payment dedicated to reducing the principal? How does that fit in to this equation? Thanks!
Thank you for doing this video, it made understanding an assignment so much more clear!
You saved my life, my father will hear about this!
Thank you for this. Very clear and helpful. Much appreciated.
Really great tutorial, I’m about to make this amortization schedule 😊
DUUUUDE! THIS IS SO PERFECTLY SIMPLE AND TERRIFIC! thank you!!!
Great video. Each step is explained well and easy to follow along. Thank you
Excellent video: unhurried, patient voice, good explanations, and thorough. Now that you have helped me create a basic amortization schedule, can you direct me to instructions for additional principal payments as well as a bi-weekly schedule?
you just saved me on my finance project, for that sir, i shall give you a like and a subscribe!!
this is amazing! don't normally comment on videos but this helped me alot! i also added an over payment cell at the top to mine. 👍
You are a legend for this, literally helped me with my homeworks
Fantastic, thank you so much! Very clear directions.
This guy is a G, much respect for the video, super helpful 🤙🏽
You did an excellent job in demonstrating the schedule. Thanks.
JG, Thanks for this informative important video. Would consider making a video adding to this information, but an additional payment is made later in the month to lower the principal. How is interest and balance calculated?
This was so helpful and amazing 🙌🏾😊
Explain simply and clearly. Thank you
YOU'RE A LIFE SAVEEEERRR. THANK YOU SOOO MUCH FOR THIS🤗🤗
Nice work - FYI just hit f4 to lock the formulas - no need to type the $
signs
really appreciated.... so simple and sweet... u help us a lot ....thanks for the sharing...🙏🙏
This helpfull ! may God bless you !
Thank you so much. it helps me a lot about loan and financial literacy
bless you mate,
I hope you live a happy life
GREAT TUTOR ,JUST FINISHED MIND
Very well explained 👍🏾
Excellent presentation, thanks!
Clear, easy to follow.
You are the BEST!!!
Best out there, for literally everything . No B.S
YOU ARE LITERALLY THE GOAT
Super helpful and easy to follow along. Thank you!
You are my goat, I love🥴
Excellent in everyway. Thank you.
THIS was awesome. Thank you for making this video!
If the rate per annum is 5%, then the monthly rate is not 5%/12. Interest that accrues on an annual basis does not equal interest that accrues on a monthly basis, because there is more time for the monthly accrued interest to compound.
Correct. The exact calculation will be =((1+"annual interest rate")^(1/12))-1
How do I factory in my escrow payment?
Enormously clear and very helpful. Thank you!
very helpful, thank you!!👏
Great video! Paused the video and did what you said. I know what my monthly payment is so I didn't doo a formula for the payment. Near the end of the table once finished I started getting negative numbers as if there was an overpayment. I did adjust the field in the interest column to only have 2 digits. I think the cell rounded up. How do I fix this? Keep the 7 or 8 places after the decimal on the interest?
This was so helpful - thank you!
So 360 months/30 years to pay off a mortgage of 300k at a monthly payment of 1,600 ish, and by doing this table you can keep track of your own mortgage, cool thx for the info 👍
Very clear. But I need to understand this, does the formulae PMT factor in the PV Annuity?
Awesome video
Helped so much👏
Excellent!!! Great teacher!!!!
Really nice explanation, but you could've saved yourself all typing after the first row if you started by using string variables and just used the drag to copy function. Also, personally, I like to add 1 more column that I call "Additional Payment" where you can enter in any amount in any month that you add to your minimum payment. This allows you to see how much faster you can pay off a loan if you pay more than the minimum amount. It lets you see exactly how much you can save on overall interest if you put more money towards your payments.
This response is EXACTLY the reason I'm creating this spreadsheet, so I can work it out as I go ha ha and see how much I can save myself in the long run by making ad hoc payments (under the penalty charge threshold). :)
How do you do this?
Hi JG,
Thank for your video. How about if my mortgage payment is bi weekly/ and how can I input the additional prepayment in the sheet. And as per your video is a fix Rate, how about the Variable Rate, how do we calculate?
Great video, very helpful. Thanks!
Thank you for posting. Very well done.
Very helpful ❤
This was incredibly helpful and easy to follow! Thank you!!
nice video- best one yet
what does the organic chemistry tutor not do?? i use this channel for so many of my classes
super helpful thank you
THANK YOU!
Exceptional presentation!!!!
This is a GREAT video. Really helped me. Thanks for doing a great job.
Such a life saver. Thank you, thank you, thank you ☺️
Thanks mate!
This was very helpful, thank you!
Among all the bullshit people have on UA-cam.....making them rich out of it...This guy, the Organic Chemistry Tutor, should be receiving all the payments, all the money he wishes...His contribution to better humanity has been far more significant than the one "done" by the 95% of all politicians in the world.
Thank you!
This was a great tutorial - thank you so much!
THANK YOU SO MUCH
Mr. JG can you make a video. On how to create sinking fund schedule.
@theorganicchemistrytutor How do you set this up to track payments actually made? Say the person skipped a payment or made weekly payments?