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**muxdemux****Member**- Registered: 2012-12-23
- Posts: 80

Given a loan amount L, a term Y (in years) and a fixed monthly repayment P, I want to find (or at least approximate) the compound interest rate R. The loan is compounded monthly, once before each payment.

I've looked into geometric series, though it isn't too easy to solve for the ratio.

I'm using a computer to find the interest rate, so iterative methods are fine.

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**bobbym****Administrator**- From: Bumpkinland
- Registered: 2009-04-12
- Posts: 104,353

**In mathematics, you don't understand things. You just get used to them.****If it ain't broke, fix it until it is.** **A number by itself is useful, but it is far more useful to know how accurate or certain that number is.**

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**bobbym****Administrator**- From: Bumpkinland
- Registered: 2009-04-12
- Posts: 104,353

Hi muxdemux;

I am glad found that. It is a nice page.

**In mathematics, you don't understand things. You just get used to them.****If it ain't broke, fix it until it is.** **A number by itself is useful, but it is far more useful to know how accurate or certain that number is.**

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