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Interest only payment
I have a spreadsheet that takes everyones current mortgage amounts and
calculates their new payments at my "advertised" rate. What I'd like to do is find a formula to determine how to figure an interest only payment based off of the standard =pmt(rate,nper,pv) formula. Assuming that the loan will be interest only for the first 5 years of the loan. Thanks for any advice! |
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