The RATE function returns the actual interest rate of an investment or loan based on equal installments. The rate function is calculated by iterative method, and there may be no solution or multiple solutions. If after 20 iterations, two adjacent results of the RATE function do not converge to 0.000000 1, the RATE function will return the error value #NUM! . Interest rates (nper, pmt, pv, [fv], [type], [guess])

Pmt: Annuity period cannot be changed. Usually, pmt includes principal and interest, but does not include other expenses or taxes. If pmt is omitted, the fv parameter must be included.

Pv: Cumulative sum of current values of a series of future payments.

Fv: Or the cash balance you want after the last payment. If fv is omitted, it is assumed that its value is 0 (for example, the future value of the loan is 0). If fv is omitted, pmt parameter must be included.

Type: the number 0 or 1, which is used to specify whether the payment time of each period is at the beginning or the end. 0 or ellipsis is the end, 1 is the beginning.

Guess: If guess is omitted, its value is assumed to be 10%. If the rate cannot converge, try a different guess. If guess is between 0 and 1, the rate usually converges.

Tips: The above contents are for reference only.

Response time: 2021-12-14. Please refer to the latest business changes announced by Ping An Bank in official website.