Calculating Interest Rate in Loan

[KarlNixon]

Looking for brainstrust help.

Looking for a formula similar to Excel's RATE function to calculate the interest rate associated with each loan.

In Excel

Monthly Payments	Loan Amount	Term	Interest rate
$    350.00	$   2,800.00	9	29.1%
$    144.45	$   1,155.56	9	29.1%
$ 1,333.33	$ 10,800.00	9	25.9%
$    590.88	$   4,950.00	9	17.5%

Where the interestrate is calculated by RATE (nper, pmt, pv, [fv], [type], [guess])

Is there an equivalent function or formula in Power BI to create an equivalent calculated column?

Any assistance greatly appreciated!

Karl

[v-xuding-msft]

Hi @KarlNixon ,

have a look at this thread
https://community.powerbi.com/t5/Desktop/Excel-Rate-function-to-build-in-Power-BI/m-p/422743

Best Regards,

Xue Ding

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