I am attempting to find the monthly payment of a loan, for example a
car loan. I have found the formula P=(C*r*((1+r)^N))/(((1+r)^N)-1)
* ,
where C- Loan Amount; N-# of Payments ; r = ARP/ compounding
frequency ; and P-Payment.

[*Source:http://www.efunda.com/formulae/finan...alculator.cfm]


Now this formula works find with the following assumptions. That our
first payment will always be 1 cyle into the loan. For example if we
are compounding monthly, then ths payment (P) will be the monthly
payment, which will be due one month after the start of the loan.


Now my question is, if I would like to change the date of first
payment, how would I go about doing this? Is there a formula
developed
for this type of situation?