rate

Periodic interest rate for an annuity.

Syntax

v = rate(nper, pmt, pv, fv, type, guess)

Description

Solves iteratively for the periodic interest rate. guess (default 0.1) is the initial estimate; convergence may fail for ill-conditioned problems.

Example

rate(30*12, -1500, 200000) * 12    % annual rate

See also

• nper — Number of payment periods for a loan or investment.
• pmt — Periodic payment for a loan or annuity.
• pv — Present value of an investment.
• fv — Future value of an investment.