bobb@netcom.COM (Bob Beaulieu) (02/09/91)
Anyone able to solve for i? Known items: pv $100,000 (present value) term 360 (number of payments) term 360 mont (payment amount) pymt $877.57 unknown: i ?????? (interest rate) Of course, the rate for the above works out to 10.000%. But, what if the pv was reduced by $5,000 (changed to $95,000); can anyone come up with a formula to calculate interest rate based on the new info? I know the answer (10.620491...), as I'm able to solve it on my HP12C. What I can't figure out is a formula to solve it on my computer. Thanks, bobb -- ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ | Bob Beaulieu | | San Jose, CA. | | (408) 723-0556 | | bobb@netcom.com | | {apple,amdahl,claris}!netcom!bobb | ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~