Having full power over your documents at any time is vital to relieve your daily tasks and increase your efficiency. Accomplish any goal with DocHub features for document management and convenient PDF file editing. Gain access, modify and save and incorporate your workflows with other safe cloud storage services.
DocHub provides you with lossless editing, the possibility to work with any format, and securely eSign papers without having looking for a third-party eSignature alternative. Get the most of the file managing solutions in one place. Consider all DocHub capabilities today with your free of charge profile.
In this video tutorial, the process of creating an amortization schedule is explained using a mortgage example. The principal amount is set at $300,000 with a 30-year term and an annual interest rate of 5%, starting on July 1, 2020. The total number of monthly payments is calculated as 30 years multiplied by 12, resulting in 360 payments. The monthly interest rate is derived by dividing the annual rate (cell B3) by 12. To calculate the monthly mortgage payment, the PMT function is introduced, where the rate corresponds to the monthly rate (cell D2). This forms the basis for establishing the amortization schedule.