RATE

RATE(nper, pmt, pv [,fv] [,type] [,guess])

Returns the interest rate for a series of equal cash flows at regular intervals (Double).

nper	The total number of payment periods in the annuity (Double).
pmt	The payment to be made each period (Double).
pv	The present value of a series of future payments or receipts (Double).
fv	(Optional) The future value you want after you make the final payment (Double).
type	(Optional) The number indicating when the payments are due: 0 = the end of the period (default) 1 = the start of the period
guess	(Optional) The value you estimate will be returned by this function (Variant).

REMARKS

* An annuity is a series of fixed cash payments made over a period of time.
* An annuity can be a loan (such as a home mortgage) or an investment (such as a monthly savings plan).
* For example, if you make monthly payments on a four-year car loan, your loan has a total of 4 * 12 (or 48) payment periods.
* Payments usually contain principal and interest that doesn't change over the life of the annuity.
* If "fv" is left blank, then 0 is used.
* If "type" = True, then 1 is used.
* If "guess" is left blank, then 0.1 (10 percent) is used.
* For all arguments, cash paid out (such as deposits to savings) is represented by negative numbers; cash received (such as dividend checks) is represented by positive numbers.
* Rate is calculated by iteration. Starting with the value of guess, Rate cycles through the calculation until the result is accurate to within 0.00001 percent.
* If Rate can't find a result after 20 tries, it fails. If your guess is 10 percent and Rate fails, try a different value for guess.
* For example, when you borrow money to buy a car, the loan amount is the present value to the lender of the monthly car payments you will make.
* For example, the future value of a loan is $0 because that's its value after the final payment. However, if you want to save $50,000 over 18 years for your child's education, then $50,000 is the future value.
* You can use the FV function to return the future value of a series of equal cash flows at regular intervals.
* You can use the IRR function to return the interest rate for a series of unequal cash flows at regular intervals (implicit reinvestment rate).
* You can use the MIRR function to return the internal rate of return for a series of unequal cash flows at regular intervals (explicit reinvestment rate).
* You can use the PMT function to return the amount of principal and interest paid in a given period in a series of equal cash flows at regular intervals.
* You can use the PV function to return the present value of a series of equal cash flows at regular intervals.
* The equivalent Excel function is Application.WorksheetFunction.RATE
* The equivalent .NET function is [[Microsoft.VisualBasic.Financial.Rate]]
* For the Microsoft documentation refer to learn.microsoft.com

Debug.Print Rate(24,-2000,12000)               '= 0.162141523814308  
Debug.Print Rate(24,-2000,12000,0)             '= 0.162141523814308  
Debug.Print Rate(24,-2000,12000,0,False)       '= 0.162141523814308  
Debug.Print Rate(24,-2000,12000,0,False,0.1)   '= 0.162141523814308  
Debug.Print Rate(24,2000,12000)                '= COMPILE ERROR