Excel Function - RATE

Used to calculate the Yield to Maturity or interest rate of an investment based on a series of cash flows.

=RATE(nper, pmt, pv, [fv], [type], [guess])

Where:

• nper: total number of payment periods
• pmt: payment made each period
• pv: present value (initial investment)
• fv: future value (cash flow at the end of the investment)
• type: when payments are due. 0 for end of period (default), and 1 for beginning of period.
• guess: an estimate for the rate (optional)