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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: 98,290

**In mathematics, you don't understand things. You just get used to them.**

**If it ain't broke, fix it until it is.** **Thinking is cheating.**

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**bobbym****Administrator**- From: Bumpkinland
- Registered: 2009-04-12
- Posts: 98,290

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.** **Thinking is cheating.**

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