I am trying to rebuild the Excel formula "Rate" definition see below, did someone already rebuild it in Apex, or can provide me some hints.
The goal is, to get the interest rate, based on the loan duration, monthly rate, and Loan amount.
Thanks a lot.
RATE(nper, pmt, pv, [fv], [type], [guess])
Nper Required. The total number of payment periods in an annuity.
Pmt Required. The payment made each period and cannot change over the life of the annuity. Typically, pmt includes principal and interest but no other fees or taxes. If pmt is omitted, you must include the fv argument.
Pv Required. The present value — the total amount that a series of future payments is worth now.
Fv Optional. The future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (the future value of a loan, for example, is 0).
Type Optional. The number 0 or 1 and indicates when payments are due.