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Question related to Goal Seek
Excel I guess this is a pure mathematical issue. At 8% per year the minimum monthly payment (interest only) is 1466.67. Thus, you will never get anything lower than that. You will thus never get down to 1100, no matter how many periods.
Here is an example, you can expand as you like.
Can even open a bank:)))
I would be happy to know if I could help.
Nikolino
I know I don't know anything (Socrates)
- Unfortunately, I can understand your project even less than Mr. Riny_van_Eekelen.
Maybe it's the translation, but what exactly do you want to achieve?
I sent you the example because it might fit into your project.
Thank you for your understanding and patience.- Ok sir...
Can you please explain me in details which you have given file? PleasePerhaps this will help. Scroll down the worksheet and you'll see that as you increase the number of months further and further, the monthly payment more or less stops decreasing: it never gets below $1,466.67 (8% of $220,000 divided by 12).
So you will never reach a monthly payment of $1100 with this initial value and interest rate - not in 100 years, not in 1,000 years, not in 10,000 years: NEVER.
So, as all of us have pointed out several times now, there is no solution to your problem. Not because we don't want to tell you, but because it does not exist.
