Question: Using this data, make an excel formula to get the interest rate formula using the given rate exchange and other information. This will be used
Using this data, make an excel formula to get the interest rate formula using the given rate exchange and other information. This will be used for a calculator.
| Years | ||||
| Credit Rating | 15 | 20 | 30 | |
| 600 | 6.588% | 7.138% | 7.256% | |
| 620 | 6.518% | 7.068% | 7.186% | |
| 640 | 6.448% | 6.998% | 7.116% | |
| 660 | 6.378% | 6.928% | 7.046% | |
| 680 | 6.308% | 6.858% | 6.976% | |
| 700 | 6.238% | 6.788% | 6.906% | |
| 720 | 6.168% | 6.718% | 6.836% | |
| 740 | 6.098% | 6.648% | 6.766% | |
| 760 | 6.028% | 6.578% | 6.696% | |
| 780 | 5.958% | 6.508% | 6.626% | |
| 800 | 5.888% | 6.438% | 6.556% | |
| 820 | 5.818% | 6.368% | 6.486% | |
| 840 | 5.748% | 6.298% | 6.416% |
| Loan Amount | $ 179,482 |
| Credit Score | 810 |
| Years for Loan | 15 |
| Current Monthly Debt | $ 1,125.00 |
| Current Monthly Income | $ 7,310.00 |
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