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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

IPMT

PMT

PPMT