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RATE
This function returns the interest rate per period of an annuity.
Syntax
RATE(nper, pmt, pval, [fval], [type], [guess])
Arguments
This function has these arguments:
Argument | Description |
|---|---|
nper | [Required] Total number of payment periods in an annuity |
pmt | [Required] Value representing the payment made each period |
pval | [Required] Present value, worth now |
fval | [Optional] 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 | [Optional] Guess for what the rate will be (optional) |
Remarks
Guess is assumed to be 10% if omitted.
Examples
RATE(A1,B2,C3,C4,1)
RATE(360, -600, 80000) gives the result 0.686%