Formula to calculate maximum principal debt

Rhonda

New Member
Joined
Jul 28, 2005
Messages
36
I am trying to enter a formula to calculate the maximum principal a company can borrow. I have the following data:
Maximum annual comittment to principal and interest - $1,704,752
Term of Loan - 5 years
Annual Interest Rate - 3.58%
Annual payments

I tried the PPMT function but am not getting the right answer?
I need this for a meeting tonight - appreciate any help I can get. Thanks.
 

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What are your inputs.. and your expected results? When i try that formula as i have posted it returns: $7,679,636.51
 
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Here is what I entered??? (I copied and pasted this directly from the cell)


=FV(3.58%,5-1704752,,0)/(1+3.58%)^(5)
 
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