Annual Percentgage Rate Formula

[Jonathan]

Does anyone know a function or formula to calculate APR
(annual percentage rate)? In my table I have: loan
amount, payment, and loan term. Any help would be greatly
appreciated!!

reply to jonathan.harris<removethis>@gbmail.com

Thanks!

 

[Michael Malinsky]

Try the RATE function. The syntax is:

RATE(Nper,Pmt,Pv)

where Nper is the number of payment periods, Pmt is the periodic payment
(expressed as a negative number since this is outgoing cash flow), and Pv is
the present value of the loan.

If is doesn't work the first time, you probably don't have the analysis
tool-pack add-in installed. Install it and try again.

HTH
--
Michael J. Malinsky
Pittsburgh, PA

"I am a bear of very little brain, and long
words bother me." -- AA Milne, Winne
the Pooh

 

[Jonathan]

That worked! Thank you! Thank you! Thank you!
Jonathan Harris