RATE FORMULA IN EXCEL

[dmkrish]

Hello,
I would like to know the formula used in excel for rate function. Anybody knows and can share with me ? as i need to use that in other programmining language where these financial functions are not available.

Thanks
dmkrish

 

[dmkrish]

Good Morning PGC
I took it from ur example Rate(7,0,-2000,3000) (=5.96%) and noticed same problem as u have noticed by giveing nper=7,pv=3000 & pmt=-2000; then what values nper,pmt,pv should have this and other examples? Rate(48, -200, 8000) (=0.77%),Rate(10*1, -1000, 6500) (=8.71%)

Thanks & Regards
dmkrish

 

[pgc01]

Good morning to you too, dmkrish

what values nper,pmt,pv should have this and other examples? Rate(48, -200, 8000) (=0.77%),Rate(10*1, -1000, 6500) (=8.71%)

I'm sorry but I don't understand. The value of the parameters in MyRate() are the same as in Rate().

I just tried your examples and it worked OK:

In B3: =Rate(48, -200, 8000)
In B4: =MyRate(48, -200, 8000)
In both cases I had the same result: 0.77%

In B6: =Rate(10*1, -1000, 6500)
In B7: =MyRate(10*1, -1000, 6500)
In both cases I had the same result: 8.71%

Am I missing something?

Book1
	A	B	C	D
1
2
3	Rate(48,-200,8000)	0.77%
4	MyRate(48,-200,8000)	0.77%
5
6	Rate(10*1,-1000,6500)	8.71%
7	MyRate(10*1,-1000,6500)	8.71%
8
Sheet2

I'm leaving for some hours now but please post back and I'll answer later.

Kind regards
PGC