Documentation/Calc Functions/RATE

Function name:
RATE

Category:
Financial Analysis

Summary:
Calculates the constant interest rate per period of an annuity.

Syntax:
RATE(NPer; Pmt; PV[; [FV][; [Type] [; Guess] ] ])

Returns:
Returns a real number (expressed as a percentage or fraction) which is the interest rate per period of an investment for the given parametric constraints.

Arguments:
NPer is a real number or a reference to the cell containing that number which is the total number of periods, during which payments are made (payment period).

Pmt is a real number or a reference to the cell containing that number which is the constant annuity paid in each period.

PV is a real number or a reference to the cell containing that number which is the present cash value in a sequence of payments.

FV is a real number or a reference to the cell containing that number which is the desired value (future value) at the end of the periods. If it is omitted, then the function uses 0.

Type is the due date of the payment at the beginning or end of each period. If it is omitted, then the function uses 0.

Guess is a real number or a reference to the cell containing that number which determines the estimated value of the interest with iterative calculation. If omitted, 0.1 (10%) is assumed.


 * If either of Pmt or FV is a positive real number the function will not converge and return an error value.
 * If NPer is less than 1, the function will not converge and return an error value.

Additional details:

 * RATE solves the following equation:

Related LibreOffice functions:
[[Special:MyLanguage/Documentation/Calc_Functions/FV FV]

[[Special:MyLanguage/Documentation/Calc_Functions/NPER NPER]

[[Special:MyLanguage/Documentation/Calc_Functions/PMT PMT]

[[Special:MyLanguage/Documentation/Calc_Functions/PV PV]

ODF standard:
Section 6.12.41, part 2

Equivalent Excel functions:
RATE