Actual 360, 30/360

[mcleod15]

I have a spreadsheet and am trying to determing if it is calculating the payement on an actual 360 or 30/360 basis.


=IF($G$5=0,$G$4*$G$7,PMT($G$4/12,$G$5*12,-1)*12*$G$7)

This is the interest formula

D14*$H$4/12



Any help would be appreciated. Thanks.

 

[Jon von der Heyden]

Could you let us know the values you have in each of the cells please?

 

[mcleod15]

G5 = Amortization = 0
G4 = Rate = 5.85
G7 = Principal = 27,000,000

My first guess is that this is calculating on a 30/360 basis.


IF($G$5=0,$G$4*$G$7,PMT($G$4/12,$G$5*12,-1)*12*$G$7)

 

[mcleod15]

also, if amortization was 30. would excel calculate this differently