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In this lesson, we will explore the amortization schedule and its calculations, focusing on its significance in loan payments, such as car loans and mortgages. The tutorial will begin with simple examples to illustrate how to create an amortization schedule in Excel. You will learn how to determine the allocation of interest for each payment period and the breakdown between interest and principal. Ultimately, you will understand how much interest will be paid over the loan's life, gaining insight into your overall payment structure for both car and mortgage loans. By the end, you should confidently create your own amortization schedules.
