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marlia
 
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Default 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!
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Peo Sjoblom
 
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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%



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Peo Sjoblom

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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!



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N Harkawat
 
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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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