# RATE

## Content

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%