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I am trying to manually calculate excels RATE() Fucntion...
I have the following info and need to find the rate.. how can this be done without excel?
total interest = 209,272.97
years in loan = 30
payments/yr = 12
total paymnets = 360
beg bal = 200000
ending balance = 0
answer should come out to 5.51%.
Any helps is greatly appreciated. Thanks!
sorry dunno much about that, but if you explain the math behind it i can convert to an actionscript function for you
i don't understand a word you said!! LOL...
uhm, basically it needs to find a rate that would in turn cause x amount of interest to be incurred throughout the life of a mortgage loan...
Quote:
Originally Posted by EvolveDesigns
TRANSLATION: can you post the formula used to get this result? :D
oohhhhhhhhhhhhhhhhhhhhh sure!
I have attached the excel file with the formula... hope this is ok..
Quote:
Originally Posted by EvolveDesigns
thaat should do it, when i have a moment, i'll whip something up today ;)