Rate( ) and how it works. . .APR?

[SMCmtg]

We are building Rate()function in Visual Basic FoxPro6, which does not have rate() function. . .Term=360 <br>months,Payment=$665.30 month level, Note Rate= 7%<br>Loan Costs=$3000, PV=$97k, FV=$0,&quot;answer from excel @rate&quot;,APR=7.305% Visual Basic=APR=(RATE(360,-665.30,97000,0,.1)*12)*100 &&excel uses iteration. . .brute force. The algebric formula we trying to use is: (FV/PV)raised to the 1/term minus 1. .((0/97000)^1/360)-1<br>Looking to factor to get rid of the fractional exponent.<br>Any recommendations on how to build this in &quot;hard code&quot;?<br>or do we have to go around the barn from a different way?<br>Thank you in advance for any directions. . .<br>Bill<br><br><br><br><br><br><br>

 

[DougP]

Look at the &quot;Int&quot; Function<br>Used ike this<br>Mynumber = 4.3333<br>x = Int(Mynumber)<br>then x = 4