PMT function with a 360 day base instead of 365 
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 PMT function with a 360 day base instead of 365

Any ideas?  I need to calculate an amortization table with a 360 day base
instead of 365.  Can't seem to get it.

TIA
---Kristine:>



Wed, 18 Jun 1902 08:00:00 GMT  
 PMT function with a 360 day base instead of 365
We need more information.

How long are your periods? It they're one month or longer, it won't make any
difference whether you use 360-day base, or 365. There are still twelve
months in a year.

Or, build an amortization table as follows:
A1 (Period) = 0
B1 (Payment) = (use the PMT function, or a guess)
C1 (Interest)  = Interest Rate
D1 (Balance) = Opening Balance
A2 = A1+1
B2 = B1
C2 = D1*$C$1*#days/360
D2 = D1-B2+C2

Copy down for the term of the loan.

Use the goalseek function to determine the payment such that the balance is
zero at the end of the term.

Regards,
Fred.


Quote:
> Any ideas?  I need to calculate an amortization table with a 360 day base
> instead of 365.  Can't seem to get it.

> TIA
> ---Kristine:>



Wed, 18 Jun 1902 08:00:00 GMT  
 
 [ 2 post ] 

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