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

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

(OP)
We are building Rate()function in Visual Basic FoxPro6, which does not have rate() function. . .Term=360
months,Payment=$665.30 month level, Note Rate= 7% Loan Costs=$3000, PV=$97k, FV=$0,"answer from excel @rate",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
Looking to factor to get rid of the fractional exponent.
Any recommendations on how to build this in "hard code"?
or do we have to go around the barn from a different way?
Thank you in advance for any directions. . .
Bill

Replies continue below

### RE: Rate( ) and how it works. . .APR?

Look at the "Int" Function
Used ike this
Mynumber = 4.3333
x = Int(Mynumber)
then x = 4

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