B
bgoody
I am currently using Excel 97 SR-2 at work and trying to calculate th
interest rate applicable to the client (i.e. all up rate) for a financ
structure.
The finance structure uses the following information :
* Amount Financed : $30,945.43 (includes brokerage of $945.43)
* Term 48 months
* Residual Value : $3,000.00 (future value)
* Interest Rate to the Financier : 18.00 % pa
* Net Payment : $905.10 pm (in advance)
NB 1 : The first two (2) payments are $Nil therefore leaving 46
$905.10.
Given that the financier is funding at 18.0% pa of the amount financed
I need to calculate what the rate to the client would be if the amoun
financed was $30,000.00 (that is the new present value) and th
brokerage was included in the terms charges \ interest charges.
I advise that I know how to do this where the payments are consisten
however, for structured transaction such as this as well as 1/4, 1/
and Yearly Payment Structures I have been unable to get the righ
rate.
Please HEEEELP !!!
Regards Bria
interest rate applicable to the client (i.e. all up rate) for a financ
structure.
The finance structure uses the following information :
* Amount Financed : $30,945.43 (includes brokerage of $945.43)
* Term 48 months
* Residual Value : $3,000.00 (future value)
* Interest Rate to the Financier : 18.00 % pa
* Net Payment : $905.10 pm (in advance)
NB 1 : The first two (2) payments are $Nil therefore leaving 46
$905.10.
Given that the financier is funding at 18.0% pa of the amount financed
I need to calculate what the rate to the client would be if the amoun
financed was $30,000.00 (that is the new present value) and th
brokerage was included in the terms charges \ interest charges.
I advise that I know how to do this where the payments are consisten
however, for structured transaction such as this as well as 1/4, 1/
and Yearly Payment Structures I have been unable to get the righ
rate.
Please HEEEELP !!!
Regards Bria