The function calculates the interest rate to a set of procedures for the loan or investment
Given the number of periods (months, quarters, years or more), payment period, the net present value, future value, and finally, the switch type of pension, and perhaps even a proposed rate.
If the switch type of pension is set to 1, Excel assumes payments occur at the beginning
time under the Convention on the rent. If you rentGoes to 0 or
They shall refrain from the argument, Excel assumes payments occur at the end of the next period
Convention retirement.
The function uses the following syntax:
PRICE (SPM, PMT, PV, FV, type, guess)
Suppose we want the implied interest rate on a rental car for a car of 20,000 U.S. dollars to calculate the five years of $ 250 a month payment is required (for pensions on account) and also
Balloon payment of $ 15,000. To do this,If you start with an assumption of 10%,
You can use the following formula:
= RATE (5 * 12, -250.20000, -15000.1)
The function returns the value .95%, which is a monthly interest rate of just under 1%.
If this monthly rate is annualized by multiplying by 12, you will receive an annual equivalent
Interest rate of 11.41%.
Another example: Suppose we want the implied interest rate on a mortgage of $ 300,000 of property to be calculated that thirty calls$ 2000 per month payments () at normal retirement age, but (fortunately) no payment balloon. To do this, if you can start with an assumption of 10%, the following formula:
= RATE (30 * 12, -2.000,300000)
The function returns the value, 59%, which is a monthly interest rate of slightly more than half a percentage point.
If this monthly rate is annualized by multiplying by 12, you will receive an annual equivalent
Interest rate of 7.0203%.
One last point: Excel solves theRate function iteratively starting ahead with the argument is that you offer.
(If you used any of these optional argument, Excel 10%.) If you do not try to solve the flow parameters in 20, there is the # NUM! Mistake. You can try another topic that can help, why do you tell Excel to look for another (hopefully more guess) starting point.
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