I have a column of payments and another of corresponding interest rates, I need to solve for Loan amount. Do you know of a formula I can use? I don't want to use goal seek.
Thanks.
I have a column of payments and another of corresponding interest rates, I need to solve for Loan amount. Do you know of a formula I can use? I don't want to use goal seek.
Thanks.
You would need to know the length of the loan (number of interest payments) to be able to find the loan amount. And what are the terms of the loan, is it based on 30/360 day count or the regular Actual/Actual day count
30 fixed term loan. 30/360 will be fine.
for example:
Pmt = 918.12
Rate = 3.62% annual
Nper = 360 monthly payments
PV = ???
Thanks
never mind, I just figured it out answering your question
thanks again.
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