dave@helmkin.com
New member
- Joined
- Jun 15, 2018
- Messages
- 1
Hello all, this is my first post on the forum
THANK YOU for your help!
I have been tasked with creating a Debt calculator which takes user inputs (total debt amount, monthly debt payments, and annual interest rate), and outputs the number of years it will take to pay off the debt.
The widespread equation solution seems to be called "Annuity (Present Value) - Solve for n", found here: http://financeformulas.net/Number-of-Periods-of-Annuity-from-Present-Value.html
I have simplified the formula so that it can be entered into excel (note I multiplied Payment by 12 so it's also on a yearly basis):
=LN((1-((PV*R)/(P*12)))^-1)/LN(1+R)
Here's the problem: The formula works perfect for certain PV/R/P combinations, but when the PV gets too high for example, the equation breaks and provided this error (Error Function LN parameter 1 value is -20. It should be greater than 0.).
Can this formula be re-written so as to work with a PV of say, 1million?
Thank you for your help!
THANK YOU for your help!
I have been tasked with creating a Debt calculator which takes user inputs (total debt amount, monthly debt payments, and annual interest rate), and outputs the number of years it will take to pay off the debt.
The widespread equation solution seems to be called "Annuity (Present Value) - Solve for n", found here: http://financeformulas.net/Number-of-Periods-of-Annuity-from-Present-Value.html
I have simplified the formula so that it can be entered into excel (note I multiplied Payment by 12 so it's also on a yearly basis):
=LN((1-((PV*R)/(P*12)))^-1)/LN(1+R)
Here's the problem: The formula works perfect for certain PV/R/P combinations, but when the PV gets too high for example, the equation breaks and provided this error (Error Function LN parameter 1 value is -20. It should be greater than 0.).
Can this formula be re-written so as to work with a PV of say, 1million?
Thank you for your help!