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%

Version Available

This function is available in product version 1.0 or later.

See Also

IPMT | PMT | PPMT | Financial Functions