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RATE

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This function returns the interest rate per period of an annuity.

RATE(*nper*,*pmt*,*pval*,*fval*,*type,guess*)

This function has these arguments:

Argument | Description |
---|---|

nper |
Total number of payment periods in an annuity |

pmt |
Value representing the payment made each period |

pval |
Present value, worth now |

fval |
Future value, cash value after the last payment |

type |
[Optional] Indicates when payments are due; at the end (0) or beginning (1) of the period; if omitted, the calculation uses the end (0) |

guess |
Guess for what the rate will be (optional) |

Guess is assumed to be 10% if omitted.

Accepts numeric data for all arguments. Returns numeric data.

RATE(A1,B2,C3,C4,1)

RATE(360, -600, 80000) gives the result 0.686%

This function is available in product version 1.0 or later.

IPMT | PMT | PPMT | Financial Functions