I'm working on converting a mortgage calculator in PHP, but I don't necessarily need a PHP solution. I'm looking for the logic needed to replicate the Excel RATE
function. I've found a solution which uses bisection, and if worse comes to worse, I use that.
I know someone out there in the interwebs world has knowledge of such a function, so I'd love to have an easy answer instead of creating a solution from scratch.
References:
- http://office.microsoft.com/en-us/excel-help/rate-HP005209232.aspx
- http://en.wikipedia.org/wiki/Newton%27s_method
Thanks
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