Mar 14 2019 01:52 PM
Hello all,
Using the PV function, I can estimate the cost of a loan if I know the amount of money being borrowed, the term, and the interest rate. This will give the monthly payments of the loan.
What I now want to do is calculate what deposit would be required on a loan if I know what the monthly payment, term, and interest rate is. How can this be done with Excel formulae?
Oct 19 2022 09:47 AM
Did you find any solution?@Drakon
Oct 19 2022 09:55 AM - edited Oct 19 2022 10:01 AM
Why are you "responding" 3.5 years later?!
Are you looking for similar answers? If so, start a new thread.
(EDIT.... Ah, I see that you did. So let's not have any more discussion in this thread.)
FYI, @Drakon has it backwards. PMT, not PV, ``will give the monthly payments of the loan``.
And PV will give ``what deposit would be required on a loan if I know what the monthly payment, term, and interest rate is``.