software

In Excel I know how to calculate a monthly repayment using PMT but is there
any way I can calculate how long a loan would take to pay off )this is a
question I've been asked and I'm not sure whether it can be done or not).

I thought maybe goal seek but you can only use that on a cell containing a
formula.

Any ideas gratefully received.

Many thanks

Anita

Anita,
you can use Goal Seek in the following manner: You know the interest
rate (say 10%) and the principal (say 1,000). Time to be entered in A1.
The following formula in B1:

=PMT(10%, A1, 1000)

Ask GS to set B1 to the desired amount by changing A1.

HTH
Kostis VezeridesThe function you want is NPER.

--
Regards,
Fredquot;Anitaquot; gt; wrote in message
...
gt; In Excel I know how to calculate a monthly repayment using PMT but is there
gt; any way I can calculate how long a loan would take to pay off )this is a
gt; question I've been asked and I'm not sure whether it can be done or not).
gt;
gt; I thought maybe goal seek but you can only use that on a cell containing a
gt; formula.
gt;
gt; Any ideas gratefully received.
gt;
gt; Many thanks
gt;
gt; Anita
Try this:

Loan50,000.00
PMT-5,872.98
i10.00%
n20lt; =NPER(B3,B2,B1)

Assume the data for for loan start in B1. The formula in B4 that returns
the number of periods is shown above.

Pieter Vandenberg

Anita gt; wrote:
: In Excel I know how to calculate a monthly repayment using PMT but is there
: any way I can calculate how long a loan would take to pay off )this is a
: question I've been asked and I'm not sure whether it can be done or not).

: I thought maybe goal seek but you can only use that on a cell containing a
: formula.

: Any ideas gratefully received.

: Many thanks

: Anita