>Anyone know how to calculate the payment on a loan where the first XX months are interest free and the remaining months are charged interest? PAYMENT() doesn't work in that situation. I found a good site on loan calculations at
http://oakroadsystems.com/math/loan.htm, but it doesn't cover that scenario.
>
>Thanks.
Sounds like a trial-and-error problem for me. The algebra is quite complicated, and I don't know whether it can be solved in the traditional sense.
Difference in opinions hath cost many millions of lives: for instance, whether flesh be bread, or bread be flesh; whether whistling be a vice or a virtue; whether it be better to kiss a post, or throw it into the fire... (from Gulliver's Travels)
