Trying to calculate Interest percentage?

What would the interest percentage be if the principal is $250,000, time is 30 years and total interest is $530,000?

Could you tell me how to calculate this?Trying to calculate Interest percentage?
The interest totals $530,000 or the total of payments equals $530,000? If the total interest equals $530,000 then all you do is take that number and divide it by 360 (# of payments over 30 years). This gives an interest-only payment of $1,472.22, and based on the loan amount, gives you an interest rate between 7% and 7.125%. If it is a principal and interest loan, you add the principal to the interest ($870,000) and divide it by 360. This equals $2,416.67. If I reverse-calculate the payment based on the term (30 years) the loan amount ($250,000) and the payment ($2,416.67) it gives me a rate of 11.1895%.



Hope this helps!
I'm sorry, but the mortgage banker was wrong. The others were much closer to the interest rate if the total interest over 30 years was $530,000. His calculation yields 7.066%. That 7.066% interest rate on a $250,000 loan will cost you $352,765.92 in interest and monthly payments would be $1,674.35.

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Trying to calculate Interest percentage?
The rate would be 9.852162%.



I used Excel and adjusted the rate until the formula =pmt(rate/12,360,250000) gave the answer $2,166.67 which is 1/360th of $780,000. In this cas "rate" was actually a reference to teh cell in which I entered a rate (like B3).



Excel has a function called rate but I couldn't figure that out.
I got 9.85% interest. I just pluged interest rates in until the monthly payment times 360 months (30 years/12 months in a year) equaled the sum of the principal and interest. Try using an amortization calculator at www.bankrate.com.Trying to calculate Interest percentage?
It really depends on the payments.



If you don't make any payments, 3.866% interest will compound annually to a total debt of $780,000 after 30 years ($530,000 interest). If you make annual payments, the interest rate is 9.7645%. Just go to any calculator and specify 30 years, annual payments, and guess at the interest rate. Then take your payments times 30, subtract $250,000 to see how much interest you paid. Adjust the interest rate guess until you get the right answer for total interest.



If you make monthly paymennts, the answer is different but the process is basically the same.