Hi, I am doing a SIB for the National Bank, to calculate the avarage interest rate for loans over months, separately for Performing and Non-performing Loans.
The source of data is from the banking sector (it is anonymus) and covers the first 8 months of 2014. (Millions of rows.)
I have to add a complicated calculation to calculate the Monthly Interest rates per record, based on ’Remining capital’, ’ Monthly installment’ and Remaining months, which is the difference between ’End of contract’ and (Current)’Period’.
The calculation is attached in Excel, and is based on Newton formula: A first value is determined and then iterations are done (re-calculations to get a more precise value for the interest rate) , while the difference between the newly calcualted value and the last one is less than abs(0.001).
If the first calculated interest rate values in not a real number, than 10%/12 has to be used to determine the first monthly interest rate. ANY ADVICE on how to integrate this Iterative calculation with a while convergence into QV script??????
I attach full description and formula.
cheers, Enikö
