1 10-4 Feb 22, 2004 #1 What function should I use to detimine the amount of principal left after 8years on a $4,000,000 loan at 6% for 20years.
What function should I use to detimine the amount of principal left after 8years on a $4,000,000 loan at 6% for 20years.
S steve smallman Feb 23, 2004 #2 10-4 =FV(0.06/12,8*12,PMT(0.06/12,20*12,4000000,0,0),4000000,0) Where the FV function determines future value and PMT function determines payments Note the values are based on monthly reducing (.06/12) values, and the period of the FV as 8*12 payments steve
10-4 =FV(0.06/12,8*12,PMT(0.06/12,20*12,4000000,0,0),4000000,0) Where the FV function determines future value and PMT function determines payments Note the values are based on monthly reducing (.06/12) values, and the period of the FV as 8*12 payments steve
N Norman Harker Feb 23, 2004 #3 Hi 10-4! You can also use the Analysis ToolPak function CUMPRINC: =-4000000-CUMPRINC(6%/12,240,4000000,1,96,0) Returns: -2,936,643.55 -- Regards Norman Harker MVP (Excel) Sydney, Australia (e-mail address removed) Excel and Word Function Lists (Classifications, Syntax and Arguments) available free to good homes.
Hi 10-4! You can also use the Analysis ToolPak function CUMPRINC: =-4000000-CUMPRINC(6%/12,240,4000000,1,96,0) Returns: -2,936,643.55 -- Regards Norman Harker MVP (Excel) Sydney, Australia (e-mail address removed) Excel and Word Function Lists (Classifications, Syntax and Arguments) available free to good homes.
