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Kind regards,

Niek Otten
Microsoft MVP - Excel

"Eric" wrote in message ...
|I get mortage loan $63000, and I need to pay $2276 every 3 months for 15 years.
| Does anyone know on how to determine the interest rate using RATE function?
|
| =RATE(60,2276,0,-63000) = -3%, which don't seem right
|
| Does anyone know how to apply RATE function in this case?
| Could anyone please give me any suggestion?
| Thank for any suggestion
| Eric
|