WorksheetFunction.Rate (Excel)

Returns the interest rate per period of an annuity. Rate is calculated by iteration and can have zero or more solutions. If the successive results of Rate do not converge to within 0.0000001 after 20 iterations, Rate returns the #NUM! error value.

For a complete description of the arguments nper, pmt, pv, fv, and type, see Pv. The following table describes the values that can be used for Arg5.

Rate (Arg1, Arg2, ..., Arg6)

Dim dblArg1 As Double: dblArg1 = 
Dim dblArg2 As Double: dblArg2 = 
Dim dblArg3 As Double: dblArg3 = 
Dim dblRate As Double
dblRate = WorksheetFunction.Rate(Arg1:=dblArg1, Arg2:=dblArg2, Arg3:=dblArg3)


Arg1, Arg2, ..., Arg6

Arg1 (Double) - Nper - the total number of payment periods in an annuity.

Arg2 (Double) - Pmt - the payment made each period and cannot change over the life of the annuity. Typically, pmt includes principal and interest but no other fees or taxes. If pmt is omitted, you must include the fv argument.

Arg3 (Double) - Pv - the present value—the total amount that a series of future payments is worth now.

Arg4 - Fv - the future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (the future value of a loan, for example, is 0)

Arg5 - Type - the number 0 or 1; indicates when payments are due

Arg6 - Guess - your guess for what the rate will be