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how to find interest rate formula. RATED5D6D7D8D9 The monthly interest rate calculated by using the RATE function is. The formula for compound interest is P 1 rnnt where P is the initial principal balance r is the interest rate n is the number of times interest is compounded per time period and t is the number of time periods.
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To calculate a monthly interest rate divide the annual rate by 12 to reflect the 12 months in the year. Real rate inflation nominal rate In this equation nominal rate is generally the figure being discussed when interest rate is mentioned. Simple Interest Formulas and Calculations.
Heres how to calculate that.
360 divided by 182 multiplied by 00167 from above gives us 0033 or a 33 annual. To calculate the annual interest rate the monthly interest rate is multiplied by 12. Multiply P by 1 your interest rate r given in a decimal. When the amount of interest the principal and the time period are known you can use the derived formula from the simple interest formula to determine the rate as follows.
