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Find Rate of Loan using Rate formula

D

delta

Member
How to find rate in excel if repayment will start from end of 2nd month?
for more clarity i attached the excel sheet for your ready reference.
 

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  • Rate formula.xlsx
    11.9 KB · Views: 6
@delta
I don't think you can use RATE formula to return the result you want as it is not set up that way. You could use IRR to calculate the effective rate by setting IF conditions inside. This way, you don't have to set up the entire range (L2:M38 in your workbook).

For example, below array formula gives the result you are after.

=IRR(IF(ROW(A1:A38)=1,A1,IF(ROW(A1:A38)=2,0,-A6)))*12

Customer A1:A38 part to the actual range based on the payment duration.
 
i know, how to use IRR formula in different condition. i just want to know that is their any other way to calculate Rate by using excel formula. the ultimate reason why i want this Rate formula is only to use this in multiple way, like a calculator.
 
i know, how to use IRR formula in different condition. i just want to know that is their any other way to calculate Rate by using excel formula. the ultimate reason why i want this Rate formula is only to use this in multiple way, like a calculator.
 
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