Dear R helpers,
I am trying to calculate the Annualized Percent Rate using following R - Code.
# ____________________________________________________________________
## R Code
library(animation)
# INPUT
C = 250000 # Loan Amount
E = 2500 # Other Cost
R = 6 # Interest rate
r = R/1200 # Monthly interest rate
q = 12 # No of Compoundings
n = 20 # No of years
# ________________________________________________________________________
# COMPUTATIONS
N = n *
q # No of months
P = ((C + E)*r*(1+r)^N) / ((1+r)^N - 1) # Monthly Payments
ani.options(nmax = 500)
solu = newton.method(function(a) C * (a*(1+a)^N) - P * ((1+a)^N - 1), 1, c(R -
0.25*R, R + 0.25*R))
solu$root
APR = ((1+solu$root)^q-1)*100
# _____________________________________________________________________
## RESULTS P = 1808.988, APR = 6.298708 These are the values I obtain.
# ____________________________________________________________________
## PROBLEM
This R code holds or yields results if I am dealing with only one value for
each of the input. However,
if there are more than one input values, how do I proceed? Say, E.g.
C = c(250000, 400000)
E = c(2500, 5000)
R = c(6, 6)
q = c(12, 12)
n = c(20, 20)
So using above code, I am able to obtain the values of P as 1808.988 and
2901.546 respectively. However, using this code I
am not able to obtain "solu" as defined above. I tried using the tapply
instead but seems its not working.
Please guide as to how do I use tapply here.
Regards and thanking in advance
Amy
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