I'm on SAS EG version 5.1 I'm attempting to use SAS Finance 'Rate' function to calculate the APR for a lease. In excel the following formula works: =RATE(TERM,,SUM_PAYMENTS - FINANCED AMOUNT,LEASE_RESIDUAL,0)*12; For a lease with the following values the APR is 2.89% FINANCED_AMOUNT = 31050.45; LEASE_RESIDUAL = 22452; TERM = 24; SUM_PAYMENTS = 9856.83; When I attempt the same formula using the SAS RATE function in a data step, I get a '.' result. Looking for a way to fix this formula or a different function that would get me to the same APR excel does. Thank you!
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