Formula to determine principal pay down

elisaleach

Board Regular
Joined
Aug 19, 2003
Messages
82
I need a formula to determine the amount of principal i have to pay down in order to get a loan back into compliance. need to set up and forecast what the pay down would have to be in the future as well.
For example, i need 1.10 coverage which i miss by $150,000. With a current principal balance of $17,000,000 on a 7% 25 yr am, what formula can i set up?
Thanks
 

Excel Facts

Do you hate GETPIVOTDATA?
Prevent GETPIVOTDATA. Select inside a PivotTable. In the Analyze tab of the ribbon, open the dropown next to Options and turn it off
I'm not entirely sure what you're trying to achieve, but it looks to me like you could use the solver function
 
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