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Practice with APR

In this exercise, you will get practice using the RATE() function and the PMT() function to calculate APR when there are fees on a loan.

Remember:

  • Points are 0.01% of the opening balance of a loan.
  • Since you put a negative on the PMT() to make it a positive number, you need to put a negative on the payment in the RATE() function to calculate properly.
  • To fully amortize a loan, all fees need to be included before calculating payments.

Este ejercicio forma parte del curso

Loan Amortization in Google Sheets

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Instrucciones del ejercicio

  • In column G, fill in the correct fee based on the principal and number of points.
  • In column E, fill in the PMT() formula based on the principal and fees.
  • In column H, calculate the APR using the RATE() function.

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