Is it possible to recreate this formula in Airtable?
- i = IRR
L = Loan amount
F = Points and all other lender fees
P = Monthly payment
n = Month when the balance is paid in full
Bn = Balance in month n
This equation can be solved for i only through a series of successive approximations, which must be done by computer. Many calculators will also do it provided that all the values of P are the same.
I’m trying to solve for i
All items except for i would be supplied via columns inside Airtable