Example

On January 1st, 2024, you'll borrow an amount which is to be paid off in 24 monthly installments of $175, starting on February 1st. Interest is at 8 % compounded monthly.

How much can you borrow?

Set up the following cashflow or select the Loan amount example in the Help > Examples menu.

Date	Type	Value	Occurs	#	Change	Step	Comment
1-1-2024	unknown	1	once				Loan
2-1-2024	inflow	175	monthly	24	no change		Payment

Enter 8 into the rate field and select monthly compounding in Compute Options.

Make sure that Auto update is checked.

You'll find the anwser in the x Value field: -14,423.77.

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