Working out APR in Excel

  VNAM75 12:50 09 Jun 2006
Locked

How do you calulate Annual percentage rate and what specifically is it, especially in terms of mortgages. I understand it takes account of additional fees as well as the normal monthly interest payments. So, of 2 mortgage products, if one had the lower APR but higher interest rate it would still be the cheaper one. I hope I am correct.

What is the formula to calculate APR in Excel?

  VoG II 12:56 09 Jun 2006
  VNAM75 13:05 09 Jun 2006

Thanks VoG, the article seems perfect.

  pj123 14:27 09 Jun 2006

If it is of any interest to you I have an Excel spreadsheet called Mortgage and Loan Analysis.

If you want to have a look at it contact me via the envelope and I will email it to you.

  Cesar 08:31 11 Jun 2006
  VNAM75 18:24 11 Jun 2006

Thanks pj123, dont think I need it. Thanks Cesar.

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