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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? |
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#2
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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? |
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