SOLUTION: You get 500 loan. You pay back 25 11 times per month and last month 412,50. How much You pay interest? Solve this in excel.
500=25*x^(-1/12)+25*x^(-2/12)+25*x^(-3/12)+25*x^(-4/1
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Question 1079741: You get 500 loan. You pay back 25 11 times per month and last month 412,50. How much You pay interest? Solve this in excel.
500=25*x^(-1/12)+25*x^(-2/12)+25*x^(-3/12)+25*x^(-4/12)+25*x^(-5/12)+25*x^(-6/12)+25*x^(-7/12)+25*x^(-8/12)+25*x^(-9/12)+25*x^(-10/12)+25*x^(-11/12)+412.5*x^(-12/12)
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
you use the IRR function to find the internal rate of return.
you use the NPV function to determine if the internal rate of return was calculated correctly.
if the NPV is 0, then the internal rate of return was calculated correctly.
here's a picture of my excel spreadsheet.
any questions, send an email to dtheophilis@gmail.com
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