ExcelBanter - How can I switch the pmt function to calculate based on a 360 day

ExcelBanter (https://www.excelbanter.com/)

- Excel Worksheet Functions (https://www.excelbanter.com/excel-worksheet-functions/)

- - How can I switch the pmt function to calculate based on a 360 day (https://www.excelbanter.com/excel-worksheet-functions/107758-how-can-i-switch-pmt-function-calculate-based-360-day.html)

mcovington

How can I switch the pmt function to calculate based on a 360 day

I am using Excel to calculate loan payments. I need to have the calculations
based on a 360 day calendar. Any ideas? Is installation of an add on required?

Duke Carey

How can I switch the pmt function to calculate based on a 360 day

The PMT() function is based on a 30/360 schedule, i.e., 30 day months, 360
dya years.

If you're trying to calculate 30/360 interest for periods between 2
specified dates, use the DAYS360() function. Look at Help for this function
to see what its limiations are

"mcovington" wrote:

I am using Excel to calculate loan payments. I need to have the calculations
based on a 360 day calendar. Any ideas? Is installation of an add on required?

All times are GMT +1. The time now is 06:38 PM.