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asked 10 months ago
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In order to determine the interest rates you need following information:
Number of years or the maturity period of the loan
Payment per period/month
Present value/Current price of the loan
Future value/Price at maturity of the loan
Payment amount per period
Interest rate
If you have to determine interest rate then you should have values mentioned above. In the case of loans, Future value is zero. The formula is as follows:
Present value = First payment/(1 + i)1 + Second payment/(1 + i)2 ...
Put the values in the formula and you can determine the interest rate.
Number of years or the maturity period of the loan
Payment per period/month
Present value/Current price of the loan
Future value/Price at maturity of the loan
Payment amount per period
Interest rate
If you have to determine interest rate then you should have values mentioned above. In the case of loans, Future value is zero. The formula is as follows:
Present value = First payment/(1 + i)1 + Second payment/(1 + i)2 ...
Put the values in the formula and you can determine the interest rate.
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