Thread: Calculate Term
View Single Post
  #2   Report Post  
Posted to microsoft.public.excel.worksheet.functions
vezerid
 
Posts: n/a
Default Calculate Term

Anita,
you can use Goal Seek in the following manner: You know the interest
rate (say 10%) and the principal (say 1,000). Time to be entered in A1.
The following formula in B1:

=PMT(10%, A1, 1000)

Ask GS to set B1 to the desired amount by changing A1.

HTH
Kostis Vezerides