Hi all, I am working in a task to derive the interest rate using excel spreadsheet. Normally the interest rate (r) is derived using the SAS mort function - MORT( a, p, r, n), where a, p and n are already given. (a = amount, p = monthly payment, n = number of periods). Reference: https://documentation.sas.com/doc/en/vdmmlcdc/8.1/ds2ref/n15243fav7jqr6n1amghnmw1vb8i.htm Are there any methods to derive the interest rate (r) if it is unknown factor in excel? Or are there any alternative formula can be used? Thanks.
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