Principal amount $100
interest amount $2
i need to repay $102 in 24 instalments
i want the function in excel to compute the interest rate for the computing
the interest rate one month so that the principal plus the interest for 24
months cumulates to $102

=RATE(24,102/24,-100,102)

--
Kind regards,

Niek Otten

"PVJ" <(E-Mail Removed)> wrote in message
news:E304FC3A-84C6-498B-A672-(E-Mail Removed)...
> Principal amount $100
> interest amount $2
> i need to repay $102 in 24 instalments
> i want the function in excel to compute the interest rate for the
> computing
> the interest rate one month so that the principal plus the interest for 24
> months cumulates to $102

PVJ,

Loan: $100
Interest rate: 1.91 %
Term: 2 years
Payments per year: 12
Number of payments: 24
Payment at end of period.
Payment: $4.25
Total payments: $102

See my free Excel add-in "Calculate Payments".
Provide any 3 and the fourth is calculated...
amount, interest rate, term, payment.
One click transfer to the worksheet.
http://www.realezsites.com/bus/primitivesoftware

Jim Cone
San Francisco, USA


"PVJ" <(E-Mail Removed)>
wrote in message
news:E304FC3A-84C6-498B-A672-(E-Mail Removed)
Principal amount $100
interest amount $2
i need to repay $102 in 24 instalments
i want the function in excel to compute the interest rate for the computing
the interest rate one month so that the principal plus the interest for 24
months cumulates to $102

try

=RATE(24,-102/24,100,0,1)


"PVJ" <(E-Mail Removed)> wrote in message
news:E304FC3A-84C6-498B-A672-(E-Mail Removed)...
> Principal amount $100
> interest amount $2
> i need to repay $102 in 24 instalments
> i want the function in excel to compute the interest rate for the
> computing
> the interest rate one month so that the principal plus the interest for 24
> months cumulates to $102