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Excel amortization formula for actual 365, actual 360

Posted on 2015-01-10
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Last Modified: 2015-02-19
I am looking for a formula to calculate the monthly repayment amount in Excel using either actual 365 or actual 360.
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Question by:RDLFC
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Patrick Matthews earned 500 total points
ID: 40546642
The PMT() function can be used for this.  Just make sure that the rate you use is the rate paid per period (i.e., divide the annual rate by 12).

BTW, this article provides a complete amortization schedule:
http://www.experts-exchange.com/Software/Office_Productivity/Office_Suites/MS_Office/Excel/A_3331-Fixed-Rate-Loan-Amortization-Schedule-with-Optional-Extra-Principal-Payments.html
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