I am trying to use Excel to calculate my mortgage ammortization
schedule.

Example:

cell
B2 mortage amount (-$60,000) negative number used so other numbers
come out positive.
C2 interest rate (7.6%)
D2 term (30 years)
PMT (calculated from above 3) $423.64. This matches the bank quote.

A6-A365 are the dates (start April 2007 and end Mar 2037)
B6-B365 are the "periods" 1-360

C6-C365 is the balance remaining on loan. This is column which does
not "check"
C6 is =-B2 (mortage amount)
C7=C6-E6
C8=C7-E7, etc...

D6-D365 is the interest paid (for that period). Forumla is ISPMT (-C
$2/12,B6,D$2*12,C6)
E6-E365 is principal paid (for that period). Formula is E6=B$4-D6;
E7=B$4-D7 etc... B4 is the fixed payment, column D is the interest
paid for that period.

This series of payments "pays off" loan in 249 months (periods),
according to column C. It should not be zero balance until period
360.

I have a similar spreadsheet which allows for additional principal
payments, but I need to get basic sheet right before concentrating on
other issues. I can e-mail a working spreadsheet for anyone
interested in taking a look.

Thank You.

jIM