Help With Formula To Determine Interest Holding Cost for Development

Hi there,

I am trying to create a formula where I can determine the holding cost for a development I am doing based on the numbers below.

Interest rate: 4.0%
Term (months): 18
Loan Amount: 1,238,350.00

I am trying to create the formula as a template so I can use it into the future when looking to determine the potential holding costs on a development site. Where I can adjust the interest rate, term and amount based on the individual projects.

I've searched up and down online with no luck so hoping someone here might be able to help me.

Thanks in advance,
Ben

As an accounting ignoramus ... I don't know if the following will help ...


http://www.driveyoursuccess.com/2011...ing-costs.html

Hi Richard,

Thank you very much for you help, appreciated. It worked perfectly. I doubt I would have ever been able to work that out!

Thanks again.

Thanks also for your reply John, also very much appreciated.