# Interest Only Mortgage Payment Formula

#### Kulata

##### New Member
I know the formula to calculate a mortgage payment:

=-PMT((Interest Rate%/12),(Years*12),Loan Amount))

What is the formula to calculate an interest only mortgage payment?

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Umm, I think it's just =Loan Amount*interest Rate %/12

Why not use the simplest solution? My other thought is that as Years approaches infinity, the Pmt() function will approach P*I/12...

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