effective rate formula on leasing

formula rate, effective leasing installments
example how to calculate the leasing installments

= 139,600,000 outstanding principal
= 5.9% flat rate
Time payment = 3 years = 36 months
obtained any interest = 139,600,000 * 5.9% = 24,711,200
Total debt = 139,600,000 + 24,711,200 = 164,311,200
installments per month is = 164.311.200/36 = 4564200

to find the effective rate is to use Excel formula = rate (NPER, PMT, PV, FV, type, guess)
NPER = total period (36)
PMT = monthly payment = 4564200
pv = 139,600,000
Fy = 0
type = 1 payments beginning of period
guess = guess percentage

obtained any rate (36; 4,564,200; 139,600,000; 0; 1; 11) = 0.96% per month (11:57% per year)

Date Interest Principal Installment Principal Total
11/12/09 - 4,564,200 4,564,200 135,035,800 164,311,200
11/01/10 1,302,163 3,262,037 4,564,200 131,773,763 159,747,000
11/02/10 1,270,707 3,293,493 4,564,200 128,480,269 155,182,800
11/03/10 1,238,947 3,325,253 4,564,200 125,155,016 150,618,600
11/04/10 1,206,881 3,357,319 4,564,200 121,797,698 146,054,400
11/05/10 1,174,506 3,389,694 4,564,200 118,408,004 141,490,200
11/06/10 1,141,819 3,422,381 4,564,200 114,985,623 136,926,000
11/07/10 1,108,817 3,455,383 4,564,200 111,530,240 132,361,800
11/08/10 1,075,496 3,488,704 4,564,200 108,041,536 127,797,600
11/09/10 1,041,854 3,522,346 4,564,200 104,519,191 123,233,400
11/10/10 1,007,888 3,556,312 4,564,200 100,962,879 118,669,200
11/11/10 973,594 3,590,606 4,564,200 97,372,273 114,105,000
11/12/10 938,970 3,625,230 4,564,200 93,747,043 109,540,800
11/01/11 904,011 3,660,189 4,564,200 90,086,855 104,976,600
11/02/11 868,716 3,695,484 4,564,200 86,391,370 100,412,400
11/03/11 833,080 3,731,120 4,564,200 82,660,250 95,848,200
11/04/11 797,100 3,767,100 4,564,200 78,893,151 91,284,000
11/05/11 760,774 3,803,426 4,564,200 75,089,725 86,719,800
11/06/11 724,097 3,840,103 4,564,200 71,249,622 82,155,600
11/07/11 687,067 3,877,133 4,564,200 67,372,488 77,591,400
11/08/11 649,679 3,914,521 4,564,200 63,457,967 73,027,200
11/09/11 611,931 3,952,269 4,564,200 59,505,698 68,463,000
11/10/11 573,819 3,990,381 4,564,200 55,515,317 63,898,800
11/11/11 535,339 4,028,861 4,564,200 51,486,457 59,334,600
11/12/11 496,489 4,067,711 4,564,200 47,418,745 54,770,400
11/01/12 457,263 4,106,937 4,564,200 43,311,809 50,206,200
11/02/12 417,660 4,146,540 4,564,200 39,165,268 45,642,000
11/03/12 377,674 4,186,526 4,564,200 34,978,743 41,077,800
11/04/12 337,303 4,226,897 4,564,200 30,751,846 36,513,600
11/05/12 296,543 4,267,657 4,564,200 26,484,189 31,949,400
11/06/12 255,389 4,308,811 4,564,200 22,175,378 27,385,200
11/07/12 213,839 4,350,361 4,564,200 17,825,017 22,821,000
11/08/12 171,888 4,392,312 4,564,200 13,432,706 18,256,800
11/09/12 129,533 4,434,667 4,564,200 8,998,039 13,692,600
11/10/12 86,769 4,477,431 4,564,200 4,520,607 9,128,400
11/11/12 43,593 4,520,607 4,564,200 0 4,564,200

24,711,200 139,600,000
0 (0)