How to Create a Reverse EMI Calculator in Excel – 2 Methods

This is an overview:

Method 1 – Using the Goal Seek Feature to Create a Reverse EMI Calculator in Excel

Step 1: Establishing the Relationship

To establish the relationship between the EMI and the Total Loan based on the Interest Rate and Time, use the PMT function. Its syntax is:

• Enter the total time (nper) and interest rate (rate).

• Use the following formula:

• Press Enter to see the result.

The EMI is calculated.

Step 2: Setting up the Parameters

Change the npr and the rate. Here, a time period of 6 years at a rate of 10%.

Step 3: Using the Goal Seek Feature to Calculated the Reverse EMI 

• Go to the Data tab and select What If Analysis in Forecast.
• Select Goal Seek.

• In the Set cell, enter the EMI amount.
• In By changing cell, select the cell containing the total Loan Amount.
• Press Enter.

The EMI was set to 3000$ to see the total amount or present value.

2. Using the PV Function to Create a Reverse EMI Calculator in Excel

Steps:

• To find the Loan Amount in the dataset below:

• Select a cell to see the output and enter the following formula in the formula bar:

• Press Enter to see the result.

Read More: Reducing Balance EMI Calculator in Excel Sheet

Things to Remember

• The Goal Seek feature requires an existing relationship.

Download Practice Workbook

Download the following workbook.

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