Forum Discussion
yestodd
May 22, 2020Copper Contributor
If loan is X, and rate is Y, and I pay Z each payment, how many payments until pd in full?
I have an amortizing loan formula solving the problem, "If my loan amount is X, and my interest rate is Y, and I pay Z each payment, how many payments will I make to pay off the loan? I solved it by...
JMB17
May 24, 2020Bronze Contributor
You could also try the NPER function:
=ROUNDUP(NPER(Rate/12,-Payment,Loan Balance),0)
Note the payment is entered as a negative.
=ROUNDUP(NPER(Rate/12,-Payment,Loan Balance),0)
Note the payment is entered as a negative.