What function to use?

1

10-4

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

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

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
[email protected]
Excel and Word Function Lists (Classifications, Syntax and Arguments)
available free to good homes.
 
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