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Amortization Calculator Skip Table of Contents What is the Amortization Calculator? Calculating your Loan Amortization What Does It Cost? How Do I Get It and Install It? What is the Amortization Calculator? This amortization calculator, available as a Pocket Excel workbook, is a handy tool for realtors or anyone interested in taking out a home loan. Once the appropriate information is entered, the spreadsheet will automatically calculate how much of each mortgage payment goes to paying your loan interest and how much goes to reduce the principal. Calculating your Loan Amortization Open FSCalc and calculate your monthly payment by entering pmt(r,n,t,pv) where r is the interest rate, n is the number of payments per year, t is the number of years, and pv is the present value of the loan. So, to calculate the monthly payment on a 30-year mortgage at 6% for $150,000, enter pmt(.06, 12, 30, 150000). The answer is $899.33. Open the Amortization.pxl file by going to Pocket Excel and choosing it from the list of workbooks. Enter the loan value, 150000, in Cell B1. Enter the payment, 899.33, in cell B2. Enter the interest rate, .06, in cell B3. Each payment will be listed beginning at row 6. Column A shows the number of payments made, column B shows the Principal portion, column C shows the Interest portion, column D shows the Cumulative Principal, column E shows the Cumulative Interest, and column F shows the Principal Balance. When you are done, close Pocket Excel and the spreadsheet will automatically be saved with your updated information. Otherwise, press ALT, navigate to Tools, Save Workbook As, and type in a new file name. From this dialog box, you can also choose to save in a different folder, or location such as a storage card. What Does It Cost? The amortization calculator is a free download. How Do I Get It and Install It? Select Amortization.exe to download and extract the amortization calculator to your computer or CompactFlash card. (The file extracts to the default folder C:\Amortization.) Next, use ActiveSync to copy the file Amortization.xls to your PAC Mate. Back to PAC Mate Headquarters		Hardware Software Training Tutorials Accessories Documentation