Prices 641128.

7 Month Principle Intrest EMI Objective:

Down Payment 200000 1 441129 4411 15000
Loan Amount 441128.7 2 430540 4305 15000 Steps:
Loan Period (Months) 36 3 419845 4198 15000 1)
Int Rate 12% 4 409044 4090 15000 2)
EMI 15000 5 398134 3981 15000
6 387116 3871 15000
7 375987 3760 15000
8 364747 3647 15000
9 353394 3534 15000
10 341928 3419 15000
11 330347 3303 15000
12 318651 3187 15000
13 306837 3068 15000 3)
14 294906 2949 15000
15 282855 2829 15000 Note:
16 270683 2707 15000
17 258390 2584 15000
18 245974 2460 15000
19 233434 2334 15000
20 220768 2208 15000
21 207976 2080 15000
22 195056 1951 15000
23 182006 1820 15000
24 168826 1688 15000
25 155514 1555 15000
26 142070 1421 15000
27 128490 1285 15000
28 114775 1148 15000
29 100923 1009 15000
30 86932 869 15000
31 72801 728 15000
32 58529 585 15000
33 44115 441 15000
34 29556 296 15000
35 14851 149 15000
36 0 0 15000
37 -15000 -150 15000
Find the down payment amount which will help customer to be debt free in 24 months.

Data --> What-if Analysis --> Goal-seek

Set the parameter as shown

The value in Cell: B2 will change, such that the value in Cell: E26 reduce to Zero

Study the formula used in Cell: E2 to G2, E3 to G3 and so on.

Year
Amount @
Start of Year
Yearly
Investment
Interest Amount @ End
Amount of Year Int Rate 8.00%
1 0 63916 5113 69029
2 69029 63916 10636 143581
3 143581 63916 16600 224097
4 224097 63916 23041 311055
5 311055 63916 29998 404968
6 404968 63916 37511 506395
7 506395 63916 45625 615937
8 615937 63916 54388 734241
9 734241 63916 63853 862010
10 862010 63916 74074 1,000,000
Reqd: Rs. 10 L