Re: How do I create a formula to calculate the average percentage

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From: LD (LD_at_discussions.microsoft.com)
Date: 01/13/05 

Date: Thu, 13 Jan 2005 10:05:06 -0800

when entering this formula the result is #num! what am I doing wrong?

"N Harkawat" wrote:

> On cell A1 change the value of -135,000 to -133,229.43 (prepaid finance
> charge $1,770.57)
> That should give you 4.859%
>
>
>
> "LD" <LD@discussions.microsoft.com> wrote in message
> news:6B2DC06C-4EC1-4615-8684-E2EEB36B58CB@microsoft.com...
> > When this calculation is put into a program called easylender a mortgage
> > program a annual percentage rate of 4.859% appears how do I create a
> > formula
> > in excel to match this rate?
> >
> > "N Harkawat" wrote:
> >
> >> for the first situation the formula is
> >> =RATE(360,-684.03,135000-1770.57)*12
> >>
> >> For second situation where the PMT changes after 74th month the Rate
> >> function would not work.
> >>
> >> however if copied from cell A2 thru A74 $742.53 and from A75 thru A361
> >> $684.03 and on cell a1 ,$-135000
> >> Then on cell B1 type the following:
> >> =IRR(A1:A361,3%/12)*12
> >>
> >> That should give you your average rate of 4.74%
> >>
> >> Its cheaper taking the first option of 4.61%
> >>
> >>
> >>
> >>
> >>
> >> "LD" <LD@discussions.microsoft.com> wrote in message
> >> news:12CC2F25-3BF8-40FB-8B35-AF3938D265C0@microsoft.com...
> >> > How do i create a formula in Excel to calculate the average percentage
> >> > rate
> >> > of a 30 year financing period
> >> > For example Loan amount 135,000 montly payment amount 684.03 number of
> >> > payments 360 intrest rate 4.5% and prepaid finance charge of 1770.57.
> >> > The
> >> > first 74 payments the monthly payment amount will be 742.53 and for the
> >> > remaining payments of 286 the monthly note will be 684.03
> >>
> >>
> >>
>
>
>

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