loan with emi holiday

[apgmin]

I am taking a loan of 1500 @ 3 % p.a. for 13 years
there will be 12 monthly payments per year and interest compounded monthly
however for the first 3 years I do not pay anything although the interest gets accumulated to the principal
what is the emi after 3 years till the 13th year
can anyone make a sheet and give me please

 

[awoohaw]

Do you have 0 x 36 months, then $###.## x 120?
or 0 x 36 then $###.## x 169?

 

[apgmin]

0 x 36 months, then $###.## x 120?

 

[Dave Patton]

Try the following
Build the sheet, guess at the payment, and then try Goal Seek.

T202305a.xlsm
	A	B	C	D
1			0.03	0.0025
2	Num	Payment	Interest	Amount
3		15.85		1,500.00
4	1		3.75	1,503.75
5	2		3.76	1,507.51
6	3		3.77	1,511.28
7	4		3.78	1,515.06
2e

Cell Formulas
Range	Formula
D1	D1	=C1/12
C4:C7	C4	=D3*$D$1
D4:D7	D4	=D3-B4+C4

T202305a.xlsm
	F
3	$1,641.08
4	$15.85
2e

Cell Formulas
Range	Formula
F3	F3	=FV(C1/12,3*12,0,-1500,0)
F4	F4	=PMT(C1/12,10*12,-F3,0)