Financial function question

[gideon]

Hi,

Can you tell me the function I should use when trying to do this.....

Enter the loan amount, the interest rate and term to get the repayment amount but then be able to adjust the repayment amount and therefore calculate what that would do to the term of the loan?

Thanx in advance...

 

[SIXTH SENSE]

Hi!
Take a look at this!

Book1
	A	B	C	D
1	AMOUNT	RATE	TERM(YEARS)	ANNUALPAYMENT
2	$1,000.00	10.00%	5	($263.80)
3
4
5	AMOUNT	RATE	TERM	ADJUSTEDPAYMENT
6	$1,000.00	10.00%	4.25	($300.00)
Sheet1

 

[SIXTH SENSE]

This looks better!

Book1
	A	B	C	D	E	F
1	AMOUNT	RATE	TERM (YEARS)	ANNUALPAYMENT		Adjustedterm
2				Computed	Adjusted
3	$1,000.00	10.00%	5	($263.80)	($300.00)	4.25
4	$1,000,000.00	7.50%	10	($145,685.93)	($150,000.00)	9.58
Sheet1

 

[Chitosunday]

To calculate the term of the loan use the nper function