Mortgage Interest Rate Factor Formula

[mecerrato]

I was given these mortgage rate factors from a friend in a pdf (he did not write the formulas to calculate the factors) and have been googling the formula so I can replicate it and can't find a way to do it.
Basically, I need to know the factor for any given mortgage interest rate.
Rate is typed in to cell a1
I would like the mortgage rate factor result in a2

This would be for a 30 year mortgage
Thank you for any help or direction you can give me

 

[Cubist]

Why don't you just do a lookup?

 

[StephenCrump]

This gets you pretty close:

	A	B	C
1
2	Rate	6.50%	p.a.
3		0.54%	per month
4	No Payments	360	months
5
6	Factor	0.0063207
Sheet1

Cell Formulas
Range	Formula
B3	B3	=B2/12
B6	B6	=B3/(1-(1+B3)^-B4)

 

[mecerrato]

Why don't you just do a lookup?

I don't have all possible rates and they change regularly so I need to be able to calculate it myself.

 

[StephenCrump]

I need to be able to calculate it myself.

Did you see Post #3?

 

[mecerrato]

This gets you pretty close:

	A	B	C
1
2	Rate	6.50%	p.a.
3		0.54%	per month
4	No Payments	360	months
5
6	Factor	0.0063207
Sheet1

Cell Formulas
Range	Formula
B3	B3	=B2/12
B6	B6	=B3/(1-(1+B3)^-B4)

Thank you, this worked good