Formula Help
Posted: Wed Mar 31, 2010 5:41 pm
I am using a php class you may be familiar with called financial_class.php. It imitates the financial functions of Excel and there is an extensive list of functions.
The problem I'm having is that the RATE() function is not returning the correct number. I'm getting a much smaller number than Excel returns.
I'm not really in the position to recreate one on my own so I'm wondering if anyone has written a function that returns RATE() as found in Excel. It solves for an interest rate needed based on a period of time, periodic payments, current balance and optionally (an option I need) a target amount.
All help with this is appreciated.
The problem I'm having is that the RATE() function is not returning the correct number. I'm getting a much smaller number than Excel returns.
I'm not really in the position to recreate one on my own so I'm wondering if anyone has written a function that returns RATE() as found in Excel. It solves for an interest rate needed based on a period of time, periodic payments, current balance and optionally (an option I need) a target amount.
All help with this is appreciated.