I'm trying to reproduce the schedule, but I cant seem to get the same Payment and Interest for each month. The tricky part here is that the Loan start date is 9 Feb 2017 but the first payment is only due on the 31st of March, from which the schedule then begins. So there is a broken interest from 9 Feb to 28 Feb. Which also get amortized across the schedule.
My compounding is also Monthly.
So my questions are.
- How do I calculate the broken interest for 9-28 Feb when using monthly compounding?
- How do I get to 14,098.74 for the payment amount. Currently I have the payment amount as 14,029.36, but I'm guessing I have to redistribute the broken interest between my interests over each month which will push it up?
When calculating it with https://financial-calculators.com/ultimate-financial-calculator# I get the schedule as seen below. But I can't seem to reproduce it on my own in excel or C#.