using excel to calculate loan amount.

[mercury]

I want to knw if there is a way to use excel to caluculate the total
amount of a loan once I have the interest rate, the numbers of months
of payments and the monthly payment amount. for example I want to know
how much the loan would be if I paid 500 a month on a 30 year loan at
6.5%. I want to be be able to use excel to calculate how much loan I
can get if I have those 3 variables.


thanks
Mercury

 

[Guest]

hi use fv(rate,period,payments)
note: as the payment is an outflow put it as a negative

hth
regards from Brazil
Marcelo


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