Financial Toolbox    
annurate

Periodic interest rate of annuity

Syntax

Arguments

NumPeriods
Number of payment periods.
Payment
Payment per period.
PresentValue
Present value of the loan or annuity.
FutureValue
(Optional) Future value of the loan or annuity. Default = 0.
Due
(Optional) When payments are due: 0 = end of period (default), or 1 = beginning of period.

Description

Rate = annurate(NumPeriods, Payment, PresentValue, FutureValue, Due) returns the periodic interest rate paid on a loan or annuity.

Examples

Find the periodic interest rate of a four-year, $5000 loan with a $130 monthly payment made at the end of each month.

(Rate multiplied by 12 gives an annual interest rate of 11.32% on the loan.)

See Also

amortize, annuterm, bndyield, irr


  amortize annuterm