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Excel formula principle balance help

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dennispgerman
Occasional Visitor

Perhaps this is answered someplace here but I am not sure how to couch my search.

Very simple; I want to calculate how long will a principle balance last at a particular rate with regular withdrawals of a specified amount.

Something like,

I have a X dollars

bearing Y interest

taking Z amount every month.

Am I missing anything?

How many months will it last?

Thanks,

1 Reply
You can download the Loan Calculator template from Microsoft Office template site

https://templates.office.com/en-us/Loan-calculator-TM03986985

and if you want to manipulate the rates, you can use goal seek in Excel.
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