Variables required to create an amortization schedule in Excel

Hello,

For a loan involving monthly payments, what combinations of the following variables are needed to create an amortization schedule?

    Beginning principal amount
    Interest rate (fixed APR)
    # of months
    Monthly payment

For example, if you have the first three variables, I'm pretty sure you can calculate the fourth. Is that correct?

    Beginning principal amount:  $87,500.00
    Interest rate (fixed APR):  5.99%
    # of months: 264
    Monthly payment:  ??

Alternatively, suppose you've got a different three variables?

    Beginning principal amount:  $87,500.00
    Interest rate (fixed APR):  5.99%
    # of months: ??
    Monthly payment:  $582

Can you solve for the fourth?

What formulas are involved in these calculations?

This question is more about solving for the missing variable. Therefore, I will ask about creating an amortization schedule in a separate thread.

Thanks
WeThotUWasAToadAsked:
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aburrCommented:
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ProfessorJimJamCommented:
=PMT(5.99%/264, 264, 87500, 0, 1)
=NPER(5.99%/264, -582, 87500)

For the first question use PMT

For the second use NPER
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WeThotUWasAToadAuthor Commented:
Thanks for the responses.

aburr
Your first link is back to this thread. Your second link is helpful.

ProfessorJimJam,
Thanks for the two Excel functions.

I also found two more functions which actually enable the creation of a schedule:

    =CUMPRINC()
    =CUMIPMT()
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WeThotUWasAToadAuthor Commented:
Thanks
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