New user with a mortgage formula question

[ny11753]

Hi,
I need help in constructing a mortgage loan formula whereby the Payment is known, the Interest Rate is known, the Term (# of years) is known, but the Principal Amount of the loan is unknown.

To better illustrate my question, I will first calculate the monthly payment for a $100,000 mortgage loan for 30 years at an interest rate of 6 per cent:

cell A1= 6% (the interest rate)
cell A2= 30 (the number of years)
cell A3= $100,000 (the principal amount of the loan)
The answer in cell A4 = $599.55

I got that result ($599.55) by typing the following formula into cell A4:
=-PMT(A1/12,A2*12,A3)

My question is this:
What is the formula I can type in to find out what the Principal Amount of the loan would be if I already have the interest rate (A1), the number of years (A2), and the monthly payment (A4)?

I'm stuck on this. Any help would be greatly appreciated!

[duane]

try the present value function (PV) which takes monthly payment, interest rate and term as arguements