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in this lesson well learn how to calculate the interest rate per period on a loan and in this example we have the loan amount we have the term 25 years and we have the monthly payment amount but we need to know what that percentage rate is going to be given these pieces of information so were going to choose oh six for the month rate Im going to click up in my formula bar and the function name is rate equals rate and we need similar pieces of information as we used before in previous lessons so n per is the number of payments or a number of periods of the loan thats going to be 300 Im going to choose Oh 8 PMT is the next piece of information thats the monthly payment so were going to choose oh nine and then comma and the present value is the loan amount and again were going to make that a negative number you can make the loan amount a negative number or the monthly payment a negative number either one will yield a positive number on the end and then were going to close it out