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RATE |
  
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RATE |
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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 |
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) |
Remarks
Guess is assumed to be 10% if omitted.
Data Types
Accepts numeric data for all arguments. Returns numeric data.
Examples
RATE(A1,B2,C3,C4,1)
RATE(360, -600, 80000) gives the result 0.686%
See Also