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Payment + interest = what total amount borrowed?

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    Payment + interest = what total amount borrowed?

    Hi guys, can't seem to figure, how could we calculate:

    Monthly debt payments = 1000 per month (A2)
    Monthly interest on debt = 3% (A3)

    A formula in A4 to tell us 'what is total debt amount borrowed' ?

    Is there a simple formula to this?

    Thanking in advance!

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    Re: Payment + interest = what total amount borrowed?

    How long are the repayments made, ie. How many months to full payment. With that information, you would use the =PV function.

    https://www.techonthenet.com/excel/formulas/pv.php

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    Re: Payment + interest = what total amount borrowed?

    That was it, alansidman, thank you!!!!!

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