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) True or False specifying when payments are due (Boolean).|
|guess||(Optional) The value you estimate will be returned by this function (Variant).|
|* 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 payments are due at the beginning of the period
* If "type" = False, then payments are due at the end of the payment period
* If "type" is left blank, then False 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.
* The equivalent Excel function is Application.WorksheetFunction.RATE
* The equivalent .NET function is Microsoft.VisualBasic.Financial.Rate
* For the Microsoft documentation refer to docs.microsoft.com
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