Dave,
This is the formula of yours I tried, but it is returning an incorrect payment amount:
=PMT(0.1299/12,120,FV(0.1299/12,3,0,-15000,0))
Again, I'm trying to get the 90day deferred payment for a loan amount of 15,000 , rate of 12.99%, and a term of 120 months.
your formula returns: $231.23
According to 5 different rate sheets (which differ by pennies) the correct payment should be about : $228.66
Thanks again,
Rob