How do I solve for the interest rate I have price and number of periods [Archive]

karenshetre

Feb 20, 2010, 10:18 AM

How do I solve for interest rate? I have the fair market price the number of years and the down payment amount and the amount to be paid semiannually

pready

Feb 21, 2010, 10:14 AM

Interest = Principal * Rate (Annual Rate / 2) * Time (2 * Number of Years)

morgaine300

Feb 23, 2010, 02:14 AM

Is it simple or compound interest? And if it's compound, are you supposed to be using algebra equations, financial calculator?