Before I explain what my problem is, please read my case first:
Company A have to loan using 2 source of fund, which backed up by loan and capital, respectively 70% and 30%. This company using this proportion to get cash in short time but still efficient. They know each rate of source funding (Attached in following Excel). But the management wanted to know the Effective Interest Rate (EIR) of total cost.
Assume the loan installment is not known, in order to calculate EIR, i only have two main components:
- Loan Tenure or Period of Loan
- Loan Amount
(While the effective interest is obtained by using goal seek.)
Actually, i can do this in Microsoft Excel using goal seek property in vba. However, i feel like it takes too long (had to calculate to each row for 150k+ times) around one hour and the company asked me to apply it in PowerBI. I also have read some articles here in powerBI using Binary-search algorithm, but i don't really understand the script and where to get started. Did anyone can help me to create this script?