Rate Function [VBA]

Returns the interest rate of a loan or an investment.

This constant, function or object is enabled with the statement Option VBASupport 1 placed before the executable program code in a module.

Syntax:

Rate( NPer as Double, Pmt as Double, PV as Double [FV as Variant], [Due as Variant], [Guess as Variant] )

Return value:

Double

Parameters:

NPer is the total number of periods during which annuity is paid.

Pmt is the regular payment made per period.

PV is the present value of the loan / investment.

FV (optional) is the future value of the loan / investment.

Due (optional) defines whether the payment is due at the beginning or the end of a period.

0 - the payment is due at the end of the period;

1 - the payment is due at the beginning of the period.

Guess(optional) determines the estimated value of the interest with iterative calculation.

Error codes:

5 Invalid procedure call

Example:

REM ***** BASIC *****
Option VBASupport 1
Sub ExampleRate
' Calculate the interest rate required to pay off a loan of £100,000 over
' 6 years, with payments of £1,500, due at the end of each month.
 Dim mRate As Double
 mRate = Rate( 72, -1500, 100000 )
 print mRate' mRate is calculated to be 0.00213778025343334
End sub

Related Topics

• RATE function in CALC
• VBA financial functions