EXCEL EXPERT NEEDED TO SOLVE CIRCULAR REFERENCE PROBLEM
Attached is a portion of a spreadsheet for a real estate development project.
I'm looking for someone who can give me a solution to solving the amount of the loan and the required equity without using any Macros or without allowing a circular reference.
Here is what we know.
1) Project costs
2) We know when the project costs will be spent over a given # of months
3) We know the amount of the loan we can obtain as a % of total project costs including interest funded by the loan.
4) We know the interest rate and the day when we will be able to pay off the loan.
5) We know all equity has to be invested into the project before the lender will give us any funding on the project loan.
We need to know
1) How much the loan will be including interest funded on the loan
2) How much equity is required
3) We need to ensure that in the end total loan = the required stated % of total project costs
Right now the attached file shows how to solve this problem utilizing a circular reference (excel options >> iterative calculation to allow circular reference).