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How do I find the loan amount from my payment in Excel?
I am building a cost analysis and I know what I can afford for a monthly
payment but I need to know what the total loan amount would be for that payment. EX: 20 year amortized 7.5% Interest $1,526 monthly payment ???? Total loan would be? |
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#2
Posted to microsoft.public.excel.misc
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How do I find the loan amount from my payment in Excel?
You want to calculate present value, as in:
=pv(7.5%/12,20*12,-1526) It will show you can support a $190K loan. Regards, Fred "New Plaza" <New wrote in message ... I am building a cost analysis and I know what I can afford for a monthly payment but I need to know what the total loan amount would be for that payment. EX: 20 year amortized 7.5% Interest $1,526 monthly payment ???? Total loan would be? |
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