Re: How do I caluclate an Annual Percentage Rate in Excel?

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"Alan" <alan111@xxxxxxxxxxxx> wrote in message
news:uzpKWx4dFHA.640@xxxxxxxxxxxxxxxxxxxxxxx
> Yes, just open Lisa's mail and cick 'Reply Group'
> Regards,
> Alan.
> "MK Manzer" <MKManzer@xxxxxxxxxxxxxxxxxxxxxxxxx> wrote in message
> news:0EDF49C8-214C-4708-8ECE-134F1B60BB82@xxxxxxxxxxxxxxxx
>> How do I do that exactly? Go to the first box where Lisa asked the
>> question
>> and reply there?
>>
>> "Alan" wrote:
>>
>>> A word of advice, repost this as a reply in the original thread, there's
>>> a
>>> good chance it wont be seen by the person you're addressing by starting
>>> a
>>> new one,
>>> Regards,
>>> Alan.
>>> "MK Manzer" <MK Manzer@xxxxxxxxxxxxxxxxxxxxxxxxx> wrote in message
>>> news:55FC6CD2-2A34-437A-9509-5F7A5C7DE3F1@xxxxxxxxxxxxxxxx
>>> > GREAT help. Can you help with TWO interest only loans?
>>> >
>>> > First -- $500,000 loan for 2 years (24 months) at 9.5% (3,958.33/mo).
>>> > Fees
>>> > of $11,090.56 are deducted from loan amount for a net funding of
>>> > 488,909.44
>>> > and include a 2 point origination fee ($10,000); prepaid interest from
>>> > 6/23-6/30 of $1,055.56; and a $35 wire fee. Is prepaid interest is
>>> > considered a fee for this calculation???
>>> >
>>> > Second - $1,250,000 loan for 3 years (36 months). First 2 years at
>>> > 9.5%
>>> > (9,895.83/mo); 3rd year at 10.5% (10,937.50/mo). Fees of $54,479.44
>>> > are
>>> > deducted from loan amount for a net funding of $1,195,520.56 and
>>> > include a
>>> > 4.25% origination fee (53,125); prepaid interest from 6/27-6/30
>>> > ($1,319.44);
>>> > and a $35 wire fee. Again, is prepaid interest considered a fee for
>>> > this
>>> > calculation?
>>> >
>>> > "N Harkawat" wrote:
>>> >
>>> >> =RATE(360,PMT(5.75%/12,360,56000),56000-361.22)*12
>>> >> gives me 5.81%
>>> >>
>>> >>
>>> >>
>>> >> "Lisa M" <LisaM@xxxxxxxxxxxxxxxxxxxxxxxxx> wrote in message
>>> >> news:878CC6E5-4C78-4F2B-B70B-189DF7A0EAA0@xxxxxxxxxxxxxxxx
>>> >> > Hope this info helps. It's kind of hard to type it and I wouldn't
>>> >> > think
>>> >> > it
>>> >> > be a good idea to post it. I can use a HP Financial Calculator to
>>> >> > get
>>> >> > the
>>> >> > number I need but I would rather have it on the spread*** that I
>>> >> > am
>>> >> > using.
>>> >> > I need to calculate an APR with Fees included. I tried the
>>> >> > =Rate(TERM, -PMT,
>>> >> > $ AMT)*12 and it gave me the actually rate of interest charged.
>>> >> > That
>>> >> > is
>>> >> > not
>>> >> > what I need. The APR is greater than the interest rate charged
>>> >> > because
>>> >> > it
>>> >> > takes the original loan amt plus certain fees charged. An example:
>>> >> > loan
>>> >> > amount of $56,000 at rate of 5.75% for 30 yrs with a P&I pmt of
>>> >> > $326.80
>>> >> > and
>>> >> > fees of $361.22. If I plug the numbers into my HP, it calcs an APR
>>> >> > of
>>> >> > 5.810%. I would like to have the spead*** do the calculation
>>> >> > that my
>>> >> > HP
>>> >> > calculator does. I have in the spread*** the loan amount, int
>>> >> > rate,
>>> >> > pmt
>>> >> > and fees. Do you have any other suggestions?
>>> >> > Thanks for all of your help. I hope that I gave you better info
>>> >> > than
>>> >> > before.
>>> >> > Lisa M
>>> >> >
>>> >> > "JE McGimpsey" wrote:
>>> >> >
>>> >> >> How could anyone know what to suggest when you don't tell what
>>> >> >> information you have available?
>>> >> >>
>>> >> >> RATE() certainly can "calculate for mortgages". What does "it
>>> >> >> didn't
>>> >> >> work" mean? Did you get the wrong answer? no answer? an error? a
>>> >> >> crash?
>>> >> >>
>>> >> >> Nobody can see your work*** (and please don't post it). Instead
>>> >> >> you
>>> >> >> need to actually describe how your data is laid out, what you've
>>> >> >> tried,
>>> >> >> and what hasn't worked.
>>> >> >>
>>> >> >>
>>> >> >> In article <DB9FF80A-FCD8-47A0-A359-3CCC4BF2AADA@xxxxxxxxxxxxx>,
>>> >> >> Lisa M <LisaM@xxxxxxxxxxxxxxxxxxxxxxxxx> wrote:
>>> >> >>
>>> >> >> > I tried that but it didn't work. Thanks!!!! I need to
>>> >> >> > calculate
>>> >> >> > for
>>> >> >> > mortgages. Any other sugestions?
>>> >> >>
>>> >>
>>> >>
>>> >>
>>>
>>>
>>>
>
>


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