As long as the remaining payments are due at monthly intervals (30 days)
then the simple calculation for the first payment is the Monthly Payment
plus interest on the entire loan for extra 15 days until the first payment
is made.

It is possible that you may have to compound that amount.

and

It is also possible that the loan calls for level payments and the interest
for the extra 15 days until the first payment is in effect capitalized and
added to the loan balance when calculating the loan payment

There are probably a few other possibilities so you have to look at the
contract to see the exact terms to determine the calculation.

HTH

PC

"Bill R" wrote in message
...
My worksheet calculates payments with the first payment due in 30 days.
How
would I modify the formula to allow me to calculate payments using any
number
of days to first payment up to 45?