Sure, I can help you create a loan schedule with a balloon payment in Excel.

First, let's understand what a balloon payment is. A balloon payment is a large payment due at the end of a loan term, typically used in situations where the borrower is unable to make large monthly payments but can afford to make a large payment at the end of the loan term.

To create a loan schedule with a balloon payment in Excel, follow these steps:

1. Open a new Excel worksheet and create the following columns: Payment Number, Payment Date, Beginning Balance, Payment, Interest, Principal, and Ending Balance.
2. In the Payment Number column, enter the number of each payment, starting with 1 and continuing until the final payment.
3. In the Payment Date column, enter the date of each payment. You can use the Excel function "=EDATE(start_date, number_of_months)" to calculate the payment date based on the start date and the number of months.
4. In the Beginning Balance column, enter the loan amount.
5. In the Payment column, enter the monthly payment amount. This can be calculated using the Excel function "=PMT(rate, number_of_periods, present_value, [future_value], [type])". The rate is the interest rate per period, the number of periods is the total number of payments, the present value is the loan amount, and the future value is the balloon payment amount (which we will calculate later). The type is optional and specifies when payments are due (0 for end of period, 1 for beginning of period).
6. In the Interest column, calculate the interest for each payment using the Excel function "=interest_rate/12*beginning_balance". The interest rate is the annual interest rate divided by 12 (for monthly payments).
7. In the Principal column, calculate the principal for each payment using the Excel function "=payment-interest". This is the amount of the payment that goes towards paying down the loan balance.
8. In the Ending Balance column, calculate the ending balance for each payment using the Excel function "=beginning_balance-principal". This is the remaining balance after each payment.
9. For the final payment, the Ending Balance should be equal to the balloon payment amount. To calculate the balloon payment amount, use the Excel function "=PV(rate, number_of_periods, [payment], [present_value], [type])". The rate is the interest rate per period, the number of periods is the remaining number of payments (excluding the final balloon payment), the payment is the regular monthly payment amount, the present value is the remaining loan balance after the last regular payment, and the type is optional and specifies when payments are due (0 for end of period, 1 for beginning of period).
10. Once you have calculated the balloon payment amount, enter it in the Ending Balance column for the final payment.

That's it! You now have a loan schedule with a balloon payment in Excel. You can change the loan amount, interest rate, and payment amount to see how they affect the schedule.