Hi,
I am trying to use an excel formula to calculate the maximum amount that a person can borrow.
I have used the "PV" formula and while it gives an approximate amount I want something more exact.
The known variable factors are:
Loan Interest Rate.
Loan Term [number of repayments]
Surplus income. [Gross Income minus living expenses other loans etc]
Any assistance would be appreciated
Thanks
Hem
I am trying to use an excel formula to calculate the maximum amount that a person can borrow.
I have used the "PV" formula and while it gives an approximate amount I want something more exact.
The known variable factors are:
Loan Interest Rate.
Loan Term [number of repayments]
Surplus income. [Gross Income minus living expenses other loans etc]
Any assistance would be appreciated
Thanks
Hem