Hi,

Can anyone maybe help me with a formula to calculate the initial payment on the following transaction please:
Capital: R41 800 000,
Annual interest rate: 14.5%
Type: In Arrears
Annual Escalation: 10%
Term: 60 months
Compound: Daily

I need a formula to calculate the initial PMT’s keeping in mind the Term must remain the same (60mths)
1) Monthly?
2) Quarterly?

My “bank” calculated the initial payments but they are “not able” to give or tell me how
1) First month pmt = R825570
2) First Quarterly pmt = R2 622 500