Returns the end-of-period interest rate which must be applied to the present value in order to arrive at the future value when compounded over the given number of periods
Syntax
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Returns the end-of-period interest rate which must be applied to the present value in order to arrive at the future value when compounded over the given number of periods |
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Rate(numberOfPeriods, futureValue, presentValue) |
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Arguments: |
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numberOfPeriods |
Numeric - the number of compounding periods |
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futureValue |
Numeric - the expected future value |
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presentValue |
Numeric - the present value or principal |
Remarks
- Example: Rate(36,30000,5000) returns 0.051.
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