Interest Only Mortgage Payment Formula

K

Kulata

New Member
Joined
Apr 4, 2002
Messages
26
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?

Thanks for your help!
 

Excel Facts

Which came first: VisiCalc or Lotus 1-2-3?
Dan Bricklin and Bob Frankston debuted VisiCalc in 1979 as a Visible Calculator. Lotus 1-2-3 debuted in the early 1980's, from Mitch Kapor.
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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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