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Mortgage formula to find annual interest rate?

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  1. #1
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    Join Date
    12-03-2009
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    Alberta, Canada
    MS-Off Ver
    Excel 2008
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    1

    Angry Mortgage formula to find annual interest rate?

    I would appreciate any help in finding a mortgage formula that would work. Here's the question I'm trying to solve within Excel. I lend out a mortgage of $180,932.50, compounding semi-annually, 14 year amortization and on a 4 year term. I know that the total interest paid over the 4 year term will be $33,626 calculated semi-annually, but what is the rate of interest? I'm not concerned with principle at this point. Anyone know a formula?
    Last edited by Lil Grasshopper; 12-03-2009 at 12:18 PM. Reason: Title change

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