Hi. Here's what I get. We first note that the loan is 300000*.85 =
255,000.
Total payments are 12*30 = 360.

=PMT(6%/12,360,-Loan)
$1,528.85

Over 30 years, you would have payed:
$1528.85 * 360 = $550,387.38

At the end of 30 years, you paid back the loan...everything else went to
interest.

$550,387.38 - Loan = $295,387.38. (Total Interest)

The total interest after 30 years can be checked with

=CUMIPMT(6%/12,360,Loan,1,360,0)

($295,387.38)

Which checks ok. :)

--
HTH. :)
Dana DeLouis
Windows XP, Office 2003


"SMAlvarez" wrote in
message ...

maybe im wrong. Is the monthly payment whatever the answer is to
PMT(.06/12,30*12,255000)

?


--
SMAlvarez
------------------------------------------------------------------------
SMAlvarez's Profile:
http://www.excelforum.com/member.php...o&userid=33287
View this thread: http://www.excelforum.com/showthread...hreadid=560939