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kyoo1

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IPMT Function

I need to calculate monthly payments on a loan that is interest payments
only. The interest rate is 5.25%, 30 year loan, balance of $600,000. How do I
do this with the IPMT function? I have entered =IPMT(5.25%/12,1,360,600,000)
and get nonsense. Can someone advise me on what it is I am doing wrong?

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