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Calculates the interest rate of an annuity investment based on constant-amount periodic payments and the assumption of a constant interest rate.
How To Use in Sheets
RATE(number_of_periods, payment_per_period, present_value, [future_value], [end_or_beginning], [rate_guess])
Google Sheets Rate Function | Calculate interest on Loan or Investment | Google Sheets Functions
The Google Sheets RATE function returns the interest rate on a monthly or yearly basis for a loan or an investment. This function needs three mandatory attributes. These are number of periods, payment per period, and present value. The three optional attributes of the RATE function in Google Sheets are future value, end or beginning, and rate guess. If you want to calculate the amount to be paid per month or year on a loan or an investment, instead of the rate, use the PMT function.
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