APR Formula Recreated in Airtable

[Utah_Mortgage]

Is it possible to recreate this formula in Airtable?

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

[kuovonne · Accepted solution]

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.