No, that doesn't solve the problem. Rate/12 compounds the interest MONTHLY
not DAILY. But Rate/365 calculates a DAILY payment, not a MONTHLY one.

"pdberger" wrote:

RK --

Try this:

A B
1 Loan $5,000,000
2 Ann Rate 7%
3 Yrs 30
4 Pmt =PMT(B2/12,B3*12,B1)

Should do it. HTH.


"rkhughes" wrote:

Data: $5M loan
Rate: 7% annual; compounded daily (360 day year)
Amort: 30 years

How to calculate MONTHLY payment?

Can't figure out how to structure PMT function with different compounding
period than payment period...