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
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