Forum Discussion
Need help with excel formula to calculate a loan amount considering fee
Hi 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:
Jagodragon wrote: ``It looks like that is using hidden fees to calculate that number``
Not at all. The calculator is simply a poor presentation of the separate solutions to two problems, as it says (correcting grammar): ``either the amount of money that you will receive after fees are applied or the increased amount that you need to request to cover the origination fees``.
Perhaps the following presentation will be clear.
Aside.... The calculator states (correction grammar): ``Rounded to nearest dollar -- actual amounts might vary due to rounding``.
I purposely do not round because: (1) it is unclear when rounding should occur (each calculation, or just for appearances); and (2) I disagree with their rounded results (I would say 26104 and 1104, not 26103 and 1103).
I wanted you to clearly see the origin of 26103 and 1103 (sic).