ModeldrillQuarterly amortization table
A financial modeling exercise from Modeldrill. Solve it with a live spreadsheet grid in your browser, with Fill right and Fill down, and it is checked the moment you submit.
The task
Build the full amortization table for a loan repaid in equal quarterly payments over the quarters in B3. Fill all five columns for quarters 1 to 8: opening balance, payment (PMT), interest on the opening balance, principal (payment less interest) and closing balance. Write row 6, then fill down.
What this exercise teaches
Interest falls each quarter because the balance falls, so more of the same payment goes to principal. A closing balance of zero at the end is the built-in check that the table is consistent.
A hint if you get stuck
Lock every input in rows 1 to 3. Only the balance links move: B7 points at F6, the closing balance one row up. If the table is right, the last closing balance is zero.
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