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calculate APR using cumulative interest?
How would I calculate the effective APR on a loan who's APR and payment size
changes? I know the cumulative interest and the original balance... Is there a formula that I could use? |
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#2
Posted to microsoft.public.excel.misc
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calculate APR using cumulative interest?
Cumulative interest is insufficient to calculate APR, because you don't know
when the interest is charged. If you want to calculate the rate on a loan with variable payments, you need the XIRR function. Build a table of cash flows and the dates they occur, and XIRR will calculate the APR for you. -- Regards, Fred "VA Helpme" <VA wrote in message ... How would I calculate the effective APR on a loan who's APR and payment size changes? I know the cumulative interest and the original balance... Is there a formula that I could use? |
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