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KarlNixon
Advocate I
Advocate I

Calculating Interest Rate in Loan

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 PaymentsLoan AmountTermInterest rate
 $    350.00 $   2,800.00929.1%
 $    144.45 $   1,155.56929.1%
 $ 1,333.33 $ 10,800.00925.9%
 $    590.88 $   4,950.00917.5%

 

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

1 REPLY 1
v-xuding-msft
Community Support
Community Support

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

If this post helps, then please consider Accept it as the solution to help the other members find it more quickly.

Best Regards,
Xue Ding
If this post helps, then please consider Accept it as the solution to help the other members find it more quickly.

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