Formulas for financing

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5 - Automation Enthusiast
5 - Automation Enthusiast

I am trying to create a formula for renovation of flipping houses. My scenario is this:

I have a purchase price. I also have 8% commissions coming out of total sale. I want to be able to input value x (possible total sale price) - 8% then - again the purchase price which would give me a field with a possible renovation budget.

So it would look something like {(enter any number value x) - 8%)} - purchase price = new value

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Will this work? Guessing the field names…

{Total Sale Price} - ({Total Sale Price} * .08) - {Purchase Price}