APR - Annual Percentage Rate
What is the Excel formula for computing an APR on a mortgage? I have the
formulas for computing payments, etc., but have never found one for the APR. Thanks! |
Look at the RATE function,
assume we have a car loan and that we don't have top notch credit scores 60 months loan of 15000 with a monthly payment of 400 dollars, gives =RATE(60,-400,15000)*12 format as percentage gives 20.31% -- Regards, Peo Sjoblom (No private emails please, for everyone's benefit keep the discussion in the newsgroup/forum) "marlia" wrote in message ... What is the Excel formula for computing an APR on a mortgage? I have the formulas for computing payments, etc., but have never found one for the APR. Thanks! |
Given fixed rate mortgages APR and no closing fees
=(1+5%/12)^12-1 "marlia" wrote in message ... What is the Excel formula for computing an APR on a mortgage? I have the formulas for computing payments, etc., but have never found one for the APR. Thanks! |
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