APR Formula Recreated in Airtable

Is it possible to recreate this formula in Airtable?

APR_Formula

Where:

  • 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

Since it can only be solved via successive approximations, you cannot calculate it in a single formula in Airtable.

However, it can be calculated by a custom script in the Scripting block. If no-one posts a Script, you could probably hire a consultant to write it for you.

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