Formula to find the closest value?

I am working on payment/cost estimator and am looking for some ideas and formula or macro help. Basically what I am trying to do is set up a calculator where you would input the payment you could afford and it will tell you how much you can spend on the equipment.
The problems I am running into are that when you factor in the interest rate and commission, the payments are round numbers so I need the formula to find the closest value.
Example- $250 payment. The payments in the table w/ the interest rates are $158, $248 and $350. I would need it to pick the corresponding equipment cost for the $248 payment.

Make sense?
If a macro would be easier I am fine with that, just have limited experience setting one up. TIA!

I tried to rearrange my payment table to correspond with that formula and can't make it work. Any other ideas or thoughts?

Attached is a sample workbook.

Ideally, the formula should take the value from A2 (payment amount), find the closest value from the range and input the corresponding equipment cost in A4.

THanks.

Okay this is to bump this thread since I have not been able to make the formula I was given work.

I am trying make a calculator that will find the corresponding equipment cost based on the payment selected. There are multiple components to this, but part I am having trouble with is getting the payment the customer would enter to match the closest payment according to the range. Thanks.

Okay, what am I missing? I copied and pasted the formula from the post, changed the range you specified, and still get #N/A

yes its worked with me
thanks thanks
i found this subject when i search in Google
and that i really want