I recently had help with some vb in working out APR. The code is correct however I've just realised that it is slightly inaccurate as it needs to consider ' Compound Interest'
I was working out APR with this
Dim LoanPmt As Double = Math.Round(Pmt(0.119 / 12, 300, -17044), 2)
Dim APR As Double = Rate(300, -LoanPmt, 15000)
Label1.Text = ((APR * 12) * 100)
What I've been told by the lender is that I now need to consider compound interest.
To do this I need to include this(below) into my formula. Can someone help me do this. Thanks
= (1+Rate) ^12-1