pmt() uses 360-Days Bases, I need 365-Days Bases

G

Guest

In Excel PMT () uses 360-Days bases to calculate Interest. I need such a
formula / function / method which use 365-Days bases to calculate an annuity
/ interest
 
J

JE McGimpsey

PMT() doesn't use either a 360 or 365 day basis. It doesn't know
anything about how long the periods are.

The basis is set in the relationship between periods and interest rate.

If you want to calculate a 365-day basis:

=PMT(APR/365, nyears*365, PV, FV)



Mujeeb ur Rehman, FBL-GRW-PK
 

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