WorksheetFunction.Rate(Double, Double, Double, Object, Object, Object) Method
Definition
Important
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Returns the interest rate per period of an annuity. RATE is calculated by iteration and can have zero or more solutions. If the successive results of RATE do not converge to within 0.0000001 after 20 iterations, RATE returns the #NUM! error value.
public double Rate (double Arg1, double Arg2, double Arg3, object Arg4, object Arg5, object Arg6);Public Function Rate (Arg1 As Double, Arg2 As Double, Arg3 As Double, Optional Arg4 As Object, Optional Arg5 As Object, Optional Arg6 As Object) As DoubleParameters
- Arg1
- Double
Nper - the total number of payment periods in an annuity.
- Arg2
- Double
Pmt - the payment made each period and cannot change over the life of the annuity. Typically, pmt includes principal and interest but no other fees or taxes. If pmt is omitted, you must include the fv argument.
- Arg3
- Double
Pv - the present value — the total amount that a series of future payments is worth now.
- Arg4
- Object
Fv - the future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (the future value of a loan, for example, is 0).
- Arg5
- Object
Type - the number 0 or 1 and indicates when payments are due.
- Arg6
- Object
Guess - your guess for what the rate will be.
Returns
Remarks
For a complete description of the arguments nper, pmt, pv, fv, and type, see Pv(Double, Double, Double, Object, Object).
| 0 or omitted | At the end of the period |
| 1 | At the beginning of the period |
If you omit guess, it is assumed to be 10 percent.
If Rate does not converge, try different values for guess. Rate usually converges if guess is between 0 and 1.
Make sure that you are consistent about the units you use for specifying guess and nper. If you make monthly payments on a four-year loan at 12 percent annual interest, use 12%/12 for guess and 4*12 for nper. If you make annual payments on the same loan, use 12% for guess and 4 for nper.