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I am looking for an Excel worksheet example of a loan schedule with a
balloon payment at the end. My internet search has not found much on the subject; and generally returns results about traditional loan payment schedules. I want to create a worksheet rather than use a loan calculator found on the web as well. This request related to new automobile financing incentive plans revolving around loans with balloon payment at the end. My mother is in the market for a new car and she recently saw an AD with this incentive option. An Excel solution will help me show the real costs associated with the loan and change numbers as when the dealer changes the options (apparently they never have the left from the advertisement). I already created a traditional loan payment schedule in Excel; so a balloon payment should not be far off. But I not entirely familiar with the math portion behind these balloon payments. Please let know how to create such a worksheet or the math behind them. |
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