I am trying to calculate an APR based on a mortgage. The formula that I have
input is as follows:
=RATE(A4,(-(PMT(A2,A4,A1,0,0))),A1+A3,0,0,0)*12
My Data is as follows:
A1 = 150,000.00 (loan amount)
A2 = 5.500 (Interest Rate)
A3 = 3000 (Closing Costs / Fees)
A4 = 360 (Term in months)
As far as I can tell I am entering all of the data in the correct format and
order but continue to receive a #NUM! error. Can anyone tell me what I am
missing or doing wrong. Thanks.