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  Discussion about math, puzzles, games and fun.   Useful symbols: √ ∞ ≠ ≤ ≥ ≈ ⇒ ∈ Δ θ ∴ ∑ ∫ π -

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Topic review (newest first)

bobbym
2013-02-02 21:29:13

Hi muxdemux;

I am glad found that. It is a nice page.

muxdemux
2013-02-02 19:22:25

Thanks for your help, bobbym. I think I misspoke; I wanted the interest rate of an amortized loan.

Anyway, I was able to find an approximation method here.

bobbym
2013-02-02 18:20:49

Hi;

Nothing from here could help?

http://en.wikipedia.org/wiki/Compound_interest

muxdemux
2013-02-02 17:35:03

Given a loan amount L, a term Y (in years) and a fixed monthly repayment P, I want to find (or at least approximate) the compound interest rate R. The loan is compounded monthly, once before each payment.

I've looked into geometric series, though it isn't too easy to solve for the ratio.

I'm using a computer to find the interest rate, so iterative methods are fine.

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