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Periodic interest rate of annuity.
Syntax
r = annurate(nper, pmt, pv, fv, due) r = annurate(nper, pmt, pv, fv) r = annurate(nper, pmt, pv)
Arguments
nperpmtpvfv0.due0 = end of period (default), or 1 = beginning of period.Description
r = annurate(nper, pmt, pv, fv, due)
returns the periodic interest rate paid of a loan or annuity.
Example
Find the periodic interest rate of a four-year, $5000 loan with a $130 monthly payment made at the end of each month:r = annurate(4*12, 130, 5000, 0, 0)
r =
0.0094
(r multiplied by 12 gives an annual interest rate of 11.32% on the loan.)
See Also
amortize, annuterm, irr, yldbond