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Old February 8th 05, 05:25 PM
Lisa M
 
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Default How do I caluclate an Annual Percentage Rate in Excel?



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Old February 8th 05, 06:10 PM
JE McGimpsey
 
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Default

Depends on what information you start with...

Take a look at the RATE() function in XL Help.

In article ,
Lisa M <Lisa wrote:
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Old February 8th 05, 06:19 PM
Lisa M
 
Posts: n/a
Default

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

"JE McGimpsey" wrote:

Depends on what information you start with...

Take a look at the RATE() function in XL Help.

In article ,
Lisa M <Lisa wrote:

  #4   Report Post  
Old February 8th 05, 06:43 PM
JE McGimpsey
 
Posts: n/a
Default

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?

  #5   Report Post  
Old February 8th 05, 07:59 PM
Lisa M
 
Posts: n/a
Default

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?




  #6   Report Post  
Old February 8th 05, 08:52 PM
N Harkawat
 
Posts: n/a
Default

=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?




  #7   Report Post  
Old February 8th 05, 09:07 PM
Lisa M
 
Posts: n/a
Default

Thanks. I was missing part of the formula. Have a good day.

"N Harkawat" wrote:

=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?




  #8   Report Post  
Old June 23rd 05, 12:40 AM
MK Manzer
 
Posts: n/a
Default

GREAT help. Can you help with TWO interest only loans?

First -- $500,000 loan for 2 years (24 months) at 9.5% (3,958.33/mo). Fees
of $11,090.56 are deducted from loan amount for a net funding of 488,909.44
and include a 2 point origination fee ($10,000); prepaid interest from
6/23-6/30 of $1,055.56; and a $35 wire fee. Is prepaid interest is
considered a fee for this calculation???

Second - $1,250,000 loan for 3 years (36 months). First 2 years at 9.5%
(9,895.83/mo); 3rd year at 10.5% (10,937.50/mo). Fees of $54,479.44 are
deducted from loan amount for a net funding of $1,195,520.56 and include a
4.25% origination fee (53,125); prepaid interest from 6/27-6/30 ($1,319.44);
and a $35 wire fee. Again, is prepaid interest considered a fee for this
calculation?

"N Harkawat" wrote:

=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?




  #9   Report Post  
Old June 23rd 05, 12:49 AM
Alan
 
Posts: n/a
Default

A word of advice, repost this as a reply in the original thread, there's a
good chance it wont be seen by the person you're addressing by starting a
new one,
Regards,
Alan.
"MK Manzer" <MK wrote in message
...
GREAT help. Can you help with TWO interest only loans?

First -- $500,000 loan for 2 years (24 months) at 9.5% (3,958.33/mo).
Fees
of $11,090.56 are deducted from loan amount for a net funding of
488,909.44
and include a 2 point origination fee ($10,000); prepaid interest from
6/23-6/30 of $1,055.56; and a $35 wire fee. Is prepaid interest is
considered a fee for this calculation???

Second - $1,250,000 loan for 3 years (36 months). First 2 years at 9.5%
(9,895.83/mo); 3rd year at 10.5% (10,937.50/mo). Fees of $54,479.44 are
deducted from loan amount for a net funding of $1,195,520.56 and include a
4.25% origination fee (53,125); prepaid interest from 6/27-6/30
($1,319.44);
and a $35 wire fee. Again, is prepaid interest considered a fee for this
calculation?

"N Harkawat" wrote:

=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?






  #10   Report Post  
Old June 23rd 05, 12:58 AM
MK Manzer
 
Posts: n/a
Default

How do I do that exactly? Go to the first box where Lisa asked the question
and reply there?

"Alan" wrote:

A word of advice, repost this as a reply in the original thread, there's a
good chance it wont be seen by the person you're addressing by starting a
new one,
Regards,
Alan.
"MK Manzer" <MK wrote in message
...
GREAT help. Can you help with TWO interest only loans?

First -- $500,000 loan for 2 years (24 months) at 9.5% (3,958.33/mo).
Fees
of $11,090.56 are deducted from loan amount for a net funding of
488,909.44
and include a 2 point origination fee ($10,000); prepaid interest from
6/23-6/30 of $1,055.56; and a $35 wire fee. Is prepaid interest is
considered a fee for this calculation???

Second - $1,250,000 loan for 3 years (36 months). First 2 years at 9.5%
(9,895.83/mo); 3rd year at 10.5% (10,937.50/mo). Fees of $54,479.44 are
deducted from loan amount for a net funding of $1,195,520.56 and include a
4.25% origination fee (53,125); prepaid interest from 6/27-6/30
($1,319.44);
and a $35 wire fee. Again, is prepaid interest considered a fee for this
calculation?

"N Harkawat" wrote:

=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?









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