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 an error.
The total number of payment periods in an annuity.
The payment made each period, which cannot change over the life of the annuity. Typically, pmt includes principal and interest but no other fees or taxes.
The present value, or the total amount that a series of future payments is worth now.
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).
The number 0 or 1, which indicates when payments are due.
Your guess for what the rate will be. If guess is omitted, it is assumed to be 10%.
Contributors: Alberto Ferrari, Marco Russo
Microsoft documentation: https://support.microsoft.com/en-us/office/rate-function-9f665657-4a7e-4bb7-a030-83fc59e748ce