Calculating a loan deposit based on the monthly payment

Occasional Visitor

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?

2 Replies

Did you find any solution?@Drakon 

@Mooo3 

 

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``.