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EXCEL 2007 Formula to calculate INTEREST only on a 3 month bridge
I am trying to calculate monthly INTEREST ONLY payment on a short term
bridge/swing loan. Assuming an interest rate of 2.75%, paid monthly, Also assuming it will be required for a 3-6 month period, amount approx $500,000. Just switched to Excel 2007 but don't seem to be able to calculate using the formula builder. Not sure if it is compounded daily or monthly. |
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