Then the APR is 6.78%

--

Regards,

Peo Sjoblom

Excel 95 - Excel 2007
Northwest Excel Solutions
www.nwexcelsolutions.com
"It is a good thing to follow the first law of holes;
if you are in one stop digging." Lord Healey


"Sean B" wrote in message
...
Payment would be $665.30
I used the PMT calc for that which is no big deal, but I gotta tell ya,
the
APR thing has me stumped...
Thanks Fred and anybody else out there who can help!
Sean

"Fred Smith" wrote:

We're still going to need to know the payment.

--
Regards,
Fred


"Sean B" wrote in message
...
No, APR is different than interest rate, it takes into account the
costs
associated with the loan and adds that to the actual interest charged
during
the life of the loan. Then it backs into what the interst rate is given
those
costs + interest rate = APR. I just don't have a clue how to get there
from
here. any ideas? anybody?

"Fred Smith" wrote:

Haven't you already specified the APR (7%)?

If you want to check to see if 7% is correct, we would need to know
the
payment.
You can also calculate it yourself using the Rate function.

--
Regards,
Fred


"Sean B" <Sean wrote in message
...
Can anybody help me determine APR using the following example:

30 year amortization
7% Rate
$100,000.00 loan amount