to compute interest rate from principal and interest amount
Principal amount $100
interest amount $2 i need to repay $102 in 24 instalments i want the function in excel to compute the interest rate for the computing the interest rate one month so that the principal plus the interest for 24 months cumulates to $102 |
to compute interest rate from principal and interest amount
=RATE(24,102/24,-100,102)
-- Kind regards, Niek Otten "PVJ" wrote in message ... Principal amount $100 interest amount $2 i need to repay $102 in 24 instalments i want the function in excel to compute the interest rate for the computing the interest rate one month so that the principal plus the interest for 24 months cumulates to $102 |
to compute interest rate from principal and interest amount
PVJ,
Loan: $100 Interest rate: 1.91 % Term: 2 years Payments per year: 12 Number of payments: 24 Payment at end of period. Payment: $4.25 Total payments: $102 See my free Excel add-in "Calculate Payments". Provide any 3 and the fourth is calculated... amount, interest rate, term, payment. One click transfer to the worksheet. http://www.realezsites.com/bus/primitivesoftware Jim Cone San Francisco, USA "PVJ" wrote in message Principal amount $100 interest amount $2 i need to repay $102 in 24 instalments i want the function in excel to compute the interest rate for the computing the interest rate one month so that the principal plus the interest for 24 months cumulates to $102 |
to compute interest rate from principal and interest amount
try
=RATE(24,-102/24,100,0,1) "PVJ" wrote in message ... Principal amount $100 interest amount $2 i need to repay $102 in 24 instalments i want the function in excel to compute the interest rate for the computing the interest rate one month so that the principal plus the interest for 24 months cumulates to $102 |
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