RATE

Function Type: Financial

Description:

Returns the interest rate per period of an annuity.

Function Structure:

=RATE(nper, pmt, pv, [fv], [type]).

Argument Breakdown:

nper – The total number of payment periods.

pmt – The payment made each period.

pv – The present value, or total value of all loan payments now.

fv – The future value, or desired cash balance after last payment. Default is 0.

type – When payments are due. 0 =end of period. 1 = beginning of period. Default is 0.

Example:

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