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- where, represents total number of payment periods
- represents the payment made for each period
- represents the remaining value of payment to be done
- represents the balance value to attain after last payment is made
- represents the payments due
- is the guess value for what rate will be
- RATE() returns the interest rate per period of an annuity.
- RATE is calculated by iteration and can have zero or more solutions.
- includes principal value and the interest amount. If omitted, is required.
- , and are optional.
- If is omitted, Calci assumes it to be zero(0).
- can be represented as '1' or '0'.
|0 or omitted||At the end of the period|
|1||At the beginning of the period|
- If is omitted, Calci assumes it to be 10%.
Consider the following example that shows the use of RATE function:
=RATE(A1*12,A2,A3,A4,A5,A6) displays monthly rate of loan -4.01% as a result. =RATE(B1*12,B2,B3,B4,B5) displays monthly rate of loan -2.77% as a result. =RATE(B1*12,B2,B3,B4,B5)*12 displays annual rate of loan -0.33263515005213806 as a result.