Discussion about math, puzzles, games and fun. Useful symbols: ÷ × ½ √ ∞ ≠ ≤ ≥ ≈ ⇒ ± ∈ Δ θ ∴ ∑ ∫ • π ƒ -¹ ² ³ °
You are not logged in.
Post a reply
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.