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#1
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Is there a formula in Excel to calculate a loan amount?
Is there a formula in Excel to calculate a loan amount if you give the rate,
payment and term? |
#2
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Is there a formula in Excel to calculate a loan amount?
Yes, it is the PV function
-- Bernard V Liengme www.stfx.ca/people/bliengme remove caps from email "DTOLLEN" wrote in message ... Is there a formula in Excel to calculate a loan amount if you give the rate, payment and term? |
#3
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Is there a formula in Excel to calculate a loan amount?
Check the PV function. You'd set the FV argument to 0, and multiply the
result by -1. Also, be sure to adjust the rate and term to match the payments (ex: if you are using the MONTHLY payment amount, your rate would be the annual rate/12 and the term would be the number of years * 12). --Bruce "DTOLLEN" wrote: Is there a formula in Excel to calculate a loan amount if you give the rate, payment and term? |
#4
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Is there a formula in Excel to calculate a loan amount?
Bruce - can you type out a sample formula for me? I think I am missing
something. An example - 30 yr loan, 6.0 rate, 877.01 pmt. On my HP calculator, I get something in the neighborhood of $146000. Thanks for your help. "bpeltzer" wrote: Check the PV function. You'd set the FV argument to 0, and multiply the result by -1. Also, be sure to adjust the rate and term to match the payments (ex: if you are using the MONTHLY payment amount, your rate would be the annual rate/12 and the term would be the number of years * 12). --Bruce "DTOLLEN" wrote: Is there a formula in Excel to calculate a loan amount if you give the rate, payment and term? |
#5
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Is there a formula in Excel to calculate a loan amount?
This is my guess.
=PV(6,30*12,877.01) "DTOLLEN" wrote in message ... Bruce - can you type out a sample formula for me? I think I am missing something. An example - 30 yr loan, 6.0 rate, 877.01 pmt. On my HP calculator, I get something in the neighborhood of $146000. Thanks for your help. "bpeltzer" wrote: Check the PV function. You'd set the FV argument to 0, and multiply the result by -1. Also, be sure to adjust the rate and term to match the payments (ex: if you are using the MONTHLY payment amount, your rate would be the annual rate/12 and the term would be the number of years * 12). --Bruce "DTOLLEN" wrote: Is there a formula in Excel to calculate a loan amount if you give the rate, payment and term? |
#6
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Is there a formula in Excel to calculate a loan amount?
=-PV(6%/12,30*12,877.01)
"DTOLLEN" wrote: Bruce - can you type out a sample formula for me? I think I am missing something. An example - 30 yr loan, 6.0 rate, 877.01 pmt. On my HP calculator, I get something in the neighborhood of $146000. Thanks for your help. "bpeltzer" wrote: Check the PV function. You'd set the FV argument to 0, and multiply the result by -1. Also, be sure to adjust the rate and term to match the payments (ex: if you are using the MONTHLY payment amount, your rate would be the annual rate/12 and the term would be the number of years * 12). --Bruce "DTOLLEN" wrote: Is there a formula in Excel to calculate a loan amount if you give the rate, payment and term? |
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