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loan Calculation
I want to calculate loan without interest if I know what the monthly payment, term, and interest rate is. How can this be done with Excel formulae?
What does "loan without interest" mean if you know the "interest rate"?
I suspect you mean simply "the amount of the loan".
If the payment is $1000 for 60 months (5 years) at an annual rate of 4%, the amount of the loan is:
=PV(4%/12, 60, -1000)
What does "loan without interest" mean if you know the "interest rate"?
I suspect you mean simply "the amount of the loan".
If the payment is $1000 for 60 months (5 years) at an annual rate of 4%, the amount of the loan is:
=PV(4%/12, 60, -1000)
