=RATE(360,PMT(5.75%/12,360,56000),56000-361.22)*12
gives me 5.81%



"Lisa M" wrote in message
...
Hope this info helps. It's kind of hard to type it and I wouldn't think
it
be a good idea to post it. I can use a HP Financial Calculator to get the
number I need but I would rather have it on the spreadsheet that I am
using.
I need to calculate an APR with Fees included. I tried the
=Rate(TERM, -PMT,
$ AMT)*12 and it gave me the actually rate of interest charged. That is
not
what I need. The APR is greater than the interest rate charged because it
takes the original loan amt plus certain fees charged. An example: loan
amount of $56,000 at rate of 5.75% for 30 yrs with a P&I pmt of $326.80
and
fees of $361.22. If I plug the numbers into my HP, it calcs an APR of
5.810%. I would like to have the speadsheet do the calculation that my HP
calculator does. I have in the spreadsheet the loan amount, int rate, pmt
and fees. Do you have any other suggestions?
Thanks for all of your help. I hope that I gave you better info than
before.
Lisa M

"JE McGimpsey" wrote:

How could anyone know what to suggest when you don't tell what
information you have available?

RATE() certainly can "calculate for mortgages". What does "it didn't
work" mean? Did you get the wrong answer? no answer? an error? a crash?

Nobody can see your worksheet (and please don't post it). Instead you
need to actually describe how your data is laid out, what you've tried,
and what hasn't worked.


In article ,
Lisa M wrote:

I tried that but it didn't work. Thanks!!!! I need to calculate for
mortgages. Any other sugestions?