# Flexible Amortization Schedule

#### rougefish

##### New Member
Hi,

Trying to solve a problem in Windows XP, using Excel 2007.

This is what I would like to construct in a spreadsheet. Also keep in mind I am pretty new at all of this. I do have a basic understanding of the formulas in excel.

Here is what I want to calculate, this is for a land contract with numerous flex options.

Purchase Price: \$100,000
Down payment at day 1 of \$10,000
Interest payment: 5% per annum compounded monthly
Term of land contract: 5 years with balloon at the end
Monthly payments of either \$800 or \$1000, beginning day 1

The big issue in developing this spreadsheet is the the payment changes: it starts at \$800 (fixed) for the next 4-6 months (depends on purchaser) then changes to \$1000 a month for the next 4-6 months (depends on purchaser) and then back again to \$800 a month and then \$1000 and so on.

In addition to that purchaser wants to put down lump sum payments periodically, both the amount and the time to deposit is strictly up to the purchaser upon notification.

Anyway I need to develop a spreadsheet that can keep track of all of this with some degree of automation and ease, was hoping that each line could have the possibility of adjusting the payment and the deposit so that as he gives me money I could just input the amounts and the calculation would be performed automatically.

Not even sure this is possible because I have searched all over for a template/formula/info that will allow me to dictate the payments (without calculation or PMT=) and have the flexibility to add lump sums at the same time.

The purchaser realizes that there will be a balloon payment if he only pays the monthly "rent" and I need the spreadsheet to make that calculation for me also.

Hope there is someone out there who can keep this simple yet perform the necessary calculations to allow me to enter payments and deposits as received yet ensure the loan balance, balloon payment and interest paid is calculated correctly.

### Excel Facts

Square and cube roots
The =SQRT(25) is a square root. For a cube root, use =125^(1/3). For a fourth root, use =625^(1/4).

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