Interest Only Mortgage Payment Formula

[Kulata]

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!

 

[hatman]

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

 

[Kulata]

Thanks! Your right...lol. I am brain dead today.

 

[hatman]

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