How do change the amortization of loan template to accommodate pa.

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G

Guest

I need an amortization table that can compute on partial years. For example,
my immediate need is to amortize $437,410 at 10% over 8.52 years. The current
template only allows for years stated in whole numbers from 1 - 30.
 
What are the individual periods of compounding interest?
Days/Months/Years/Decades/Biweekly/Semimonthly/???
Once you know that, you can figure out the number of periods in 8.52 years.
With that information you can 1) extend your table past the 30 lines you
currently have to include the number of periods, 2) use the PMT function to
get periodic payments and you're done.
HTH,
Gary Brown
 

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