Hi Mark!

Please don't shout. Using all upper case is considered shouting and is
more difficult to read especially for those whose first language isn't
the language used.

Try:
=PMT(8%/12,12,10000*((1+(1+8%/12)^(12/365)-1)^45),0,1)
Returns: 872.66

I've assumed an APR compounded monthly with the repayment break being
charged interest at the daily effective equivalent of that rate.

The amount of loan 10000 gets accumulated for 45 days and thereafter
there are 12 payments due with the first being made at the beginning
of the first month.

--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
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"MARK AKKERMAN" wrote in message
...
HOW WOULD YOU CALCULATE A PAYMENT WITH THE PAYMENTS
STARTING ON AN ODD DAY, IE: 45 DAYS TO FIRST PAYMENT?