The Amortization sheet in the Residential Proforma spreadsheet provides a detailed monthly loan schedule based on the loan amount, term in years, and interest rate. By adjusting these details in the Decision sheet, users can understand how changes in loan terms will affect their monthly payments and the overall duration of the loan repayment. For instance, the sheet can show how making extra monthly payments can shorten the loan term. This helps users to make informed decisions about their loan repayments.
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The Amortization sheet displays a monthly loan schedule according to the loan amount, term in years, and interest rate. The loan details can be easily adjusted in the Decision sheet to see how changes to the terms will impact monthly payments and the duration of the repayment. Users can also see how an extra monthly payment will impact the schedule. For example, if a buyer chooses to pay an additional $500 per month on the loan, they may see that the loan will be repaid an entire year sooner.
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