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.
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.