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APR calculation for Mortgages with a balloon payment.
I need to calculate an APR for a mortgage with a balloon payment.*
I've tried oodles of combinations of RATE(), PMT(), FV().* An example might be a $100,000 home, $500 in loan fees financed in the mortgage, an annual rate of 6.5%, 7 year term, payments amortized over 12 years.* The answer is ~7.02. Help! |
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