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

Test for Multiple Conditions in IF?
Use AND(test, test, test, test) or OR(test, test, test, ...) as the logical_test argument of IF.
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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