RATE
Returns the interest rate per period for a loan or an investment. For example, use 6%/4 for quarterly payments at 6% APR.
Syntax
expression.RATE(arg1, arg2, arg3, arg4, arg5, arg6);
expression - A variable that represents a ApiWorksheetFunction class.
Parameters
| Name | Required/Optional | Data type | Default | Description |
|---|---|---|---|---|
| arg1 | Required | ApiRange | ApiName | number | The total number of payment periods for the loan or investment. | |
| arg2 | Required | ApiRange | ApiName | number | The payment made each period and cannot change over the life of the loan or investment. | |
| arg3 | Required | ApiRange | ApiName | number | The present value: the total amount that a series of future payments is worth now. | |
| arg4 | Optional | ApiRange | ApiName | number | The future value, or a cash balance which will be attained after the last payment is made. If omitted, it is equal to 0. | |
| arg5 | Optional | ApiRange | ApiName | number | A logical value: payment at the beginning of the period = 1; payment at the end of the period = 0 or omitted. | |
| arg6 | Optional | ApiRange | ApiName | number | An estimate at what the rate will be. If it is omitted, the function will assume guess to be 0.1 (10 percent). |
Returns
number
Example
Calculate the interest rate for each payment period of a loan or investment in a spreadsheet.
// How do I determine the periodic interest rate from loan payment details in a spreadsheet?
// Find the rate applied to each period when given the total payment schedule in a spreadsheet.
let worksheet = Api.GetActiveSheet();
let func = Api.WorksheetFunction;
worksheet.GetRange("A1").SetValue(func.RATE(2*12, -500, 10000, 0));