hey all..
is there a way to calculate an interest rate based on the following info?
A. total interest paid over life of loan
B. total # of months of loan period
C. beginning principal balance
D. Ending balance to be 0, after # of months in B.
Here is my info..
A. 279,017.80
B. 360
C. 200,000
D. 0
I want the answer to come out to 7%..
i'm stumped.
is there a way to calculate an interest rate based on the following info?
A. total interest paid over life of loan
B. total # of months of loan period
C. beginning principal balance
D. Ending balance to be 0, after # of months in B.
Here is my info..
A. 279,017.80
B. 360
C. 200,000
D. 0
I want the answer to come out to 7%..
i'm stumped.