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PAYMENT CALCULATIONS
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 Holidays and Observances Monday 21st July: Belgium (National Day), Bolivia (Martyrs' Day), Guadeloupe (Victor Schoelcher Day), Guam (Liberation Day), Japan (Marine Day), Malta (St. George Festa), Peru (Feria Local Fronteriza Peruano Ecuatoriana), St. Martin (Schoelcher Day). Excel and Word Function Lists (Classifications, Syntax and Arguments) available free to good homes. "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? |
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