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calculating term of financial transaction
If I know the amount financed is $1,000 and the interest is $268.91 and the
interest rate is 24% and that is all I know, how do I work out the term of the loan? In this example the answer is 24months but I would like to know how to use an excel function to achieve the result. I am assuming I don't know the instalment Regards -- bookman |
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