Forum Discussion
Need help with excel formula to calculate a loan amount considering fee
Hello, I was hoping someone can help me figure out an excel formula to calculate a loan amount that considers a fee and a cap. For the example below, a borrower requests $65K, they only have roo...
I am assuming that the Total of B4 and B5 needs to equal B2. this means that your value in B4 needs to come from B5 and not B2. Please see the screen shot below. Formulas are on the far right of the image.
- Thank you Jagodragon for responding. This helps, I may have overlooked mentioning that the loan origination fee amount (B4) gets added to B2, this increases the total amount that a person can borrow in B2. I am still stuck on trying to figure out a formula to increase B5 up to the max so it does not go over B2 Plus B4. Not sure if this makes sense....it's been a long day.
- b5 is showing what the loan is after the fee is removed. if you add the fee (B4) to the loan amount (B5) you get the max of 30,000.
B5 is showing the usable loan that can go to the customer after fee is deductedHi Robert, I may not have worded my question accurately, but I'm essentially trying to figure out an excel formula that calculates the highlighted cell below:
