I need a function(formula) that will amortize a loan based on a 365/360
(actual/360) basis, no compounding, with payment due at the end of each
payment period (ie monthly payments with note dated 11/6, first payment 12/6)
So with a loan amount of $1,662,000 at 7.5% 10year amortization the loan
payment should be $19,821.32 with this formula (On our current formula we
come up with $19,728.24)

This is what I am currently using but it is not a true 30/360 formula
=ROUND(-(PMT(C11/12,C12,C10)-0.005),2) where C11= Annual IR, C12= Term in
months and C10=Original loan amount and is not accurate for what I need. Can
anyone help?