The information would be:
Monthly instalment of 12,278 will be paid to settle part of principal and interest.
Amount will be fully repaid after 36 months, implying the future value should be 0.
Payment is in arrear.
Is it possible to calculate the present value with these information.
The correct answer for the above should be $400,000 of PV and 0.55% of implicit IR.
Any idea for the calculation or excel formula would be much appreciated.
Monthly instalment of 12,278 will be paid to settle part of principal and interest.
Amount will be fully repaid after 36 months, implying the future value should be 0.
Payment is in arrear.
Is it possible to calculate the present value with these information.
The correct answer for the above should be $400,000 of PV and 0.55% of implicit IR.
Any idea for the calculation or excel formula would be much appreciated.