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#1 2013-02-02 17:35:03
- muxdemux
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Finding the Compound Interest Rate
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.
#2 2013-02-02 18:20:49
- bobbym
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Re: Finding the Compound Interest Rate
Hi;
Nothing from here could help?
http://en.wikipedia.org/wiki/Compound_interest
In mathematics, you don't understand things. You just get used to them.
90% of mathematicians do not understand 90% of currently published mathematics.
I am willing to wager that over 75% of the new words that appeared were nothing more than spelling errors that caught on.
#4 2013-02-02 21:29:13
- bobbym
- Administrator
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Re: Finding the Compound Interest Rate
Hi muxdemux;
I am glad found that. It is a nice page.
In mathematics, you don't understand things. You just get used to them.
90% of mathematicians do not understand 90% of currently published mathematics.
I am willing to wager that over 75% of the new words that appeared were nothing more than spelling errors that caught on.