Record of Loan Payments and Rate Changes Calculator

Alerts and notices

This calculator produces a historical payment schedule. It allows for changes in payment dates, payment amounts, and interest rates. It also computes deferred interest and allows for additions to principal during the loan, such as late fees.

First, establish the loan with input in the first four fields:

  • Date of loan origination
  • Loan amount
  • Deferred interest
  • Compounded (Payment Date or Daily)

Then, as payments are made, enter the date of the payment, the amount, and interest rate to be used since the last payment. The interest rate will automatically fill in when the user enters a rate in the preceding Interest Rate field, however, the user can enter a different rate for each payment.

Payments are applied in the following order:

  • Interest
  • Deferred interest
  • Principal

Generating a payment schedule automatically

The application can generate a payment schedule automatically by starting with the Custom Loan Payment Schedule calculator and then using the Export to Record of Loan Payments feature. Click to view the procedure.

Working in the input grid

  • To insert a row in the table, right-click in the preceding row and choose Insert Row. To insert an entry between two existing rows in the table, add the row at the bottom of the table and the application will sort it based on date.
  • To delete a row, right-click in the row and choose Delete Row.
  • To compute a loan payoff amount, or to compute interest to a particular date, enter the desired date with a zero payment. The Balance column will show the loan payoff amount.

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