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Calculate loan amount when payment known.

  1. #1
    Registered User
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    Ankeny, IA
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    Excel 2003

    Calculate loan amount when payment known.

    I am in auto sales and recently changed dealerships. I had found a loan calculator program that allowed me to do several things. One was to calculate a loan amount if I knew the payment, term and interest rate. That info was on my work computer and I don't have access to it anymore. I tried and have not been successful in finding that program back. Can anyone help me. We are using Excel 2003.

  2. #2
    Forum Guru shg's Avatar
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    The Great State of Texas
    MS-Off Ver
    2003, 2010

    Re: Calculate loan amount when payment known.

    Present value?

    For a 5-year loan at 6% with $350/mo payments, =PV(6%/12, 60, -350) returns $18,103.95
    Entia non sunt multiplicanda sine necessitate

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