Solving for Rate with deferred payments

gbuckman

New Member
Joined
Nov 13, 2020
Messages
1
Office Version
  1. 365
Platform
  1. Windows
How would I determine the interest rate on a loan with an initial deferral period?

Example:
PV: $105,905
N: 24 (maybe 27?)
Pmt: Months 1-3 at $0, Months 4-27 $4,626
FV: $0

Using T-Value, I get a rate of 3.67%, but I can't mimic it in Excel.
 

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