Language Reference Guide > Language Reference Guide > Function Libraries > Finance Library Functions > IPER Function
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IPER Function
The IPER function calculates the interest rate per period based on the same formula for FV.
This function has the following syntax:
IPER(pmt = value, pv = value, nper = value[, fv = value, paybegin])
Note:  Paybegin is either 1 or 0, indicating that the payment is made at the beginning or end of the period.
Arguments
Data Type
Description
pmt
Float
Periodic payment
pv
Float
Present value
nper
Float
Number of periods
fv
Float
Future value
Default: 0
paybegin
Integer
1 = beginning of period
0 = end of period
Default: 0
This function returns:
• Float—The interest per period
• Null—On error
Example—IPER function:
/*  Calculate what the interest rate per year would
**  have to be on a loan if the amount borrowed was
**  $10,000 for a period of 48 months and payments
**  were $250 per month. Because iper returns
**  interest/month in this case, it must be multiplied
**  by 12 to get interest per year. Also the payment
**  must be entered as a negative since it is a cash
**  outflow. Multiply by 100 to get a percentage.
*/
interest = 100*12*iper(pmt = -250, pv = 10000, nper = 48);
Last modified date: 06/25/2024