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A Particular Amortization Method

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homevestors

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Aug 2, 2006, 4:55:19 PM8/2/06
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Hello,

How can I create a formula in excel to determine a "maximum mortgage of
$51,645" by just plugging in the monthly payment, the rate, and the
term?

::$361/month at 7.5% on a 30 year amortization equals a maximum
mortgage of- $51,645-::


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Mike Middleton

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Aug 2, 2006, 8:02:47 PM8/2/06
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homevestors -

=PV(0.075/12,30*12,-361)

- Mike

"homevestors" <homevestors.2bxkq...@excelforum-nospam.com>
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homevestors

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Aug 2, 2006, 10:07:42 PM8/2/06
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That is so awesome! Thank you very much!
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