On Fri, 27 Jan 2006 21:50:46 +0000, Union70
wrote:


Can anyone help me with this?
I'm trying to find the Interest Rate of a loan if I'm given Original
amount of loan, term and Payment.
Example
A2 = Original Amt of Loan
A3 = Term in Months
A4 = Payment
A5 = Interest Rate Yearly

B2 = 17420.00
B3 = 48
B4 = 413
B5 = This should be 6.49 %.

Either I'm slow or I'm missing some steps. Can anyone give me a
formula to get this rate?

Thanks,
Union

Look at the RATE worksheet function.

It will give you the interest rate PER PERIOD. Since your periods are MONTHS
and you want the annual rate, merely multiply your answer by 12.


--ron