Language Reference Guide > Language Reference Guide > Function Libraries > Finance Library Functions > IRATE Function
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IRATE Function
The IRATE function calculates the periodic interest rate required for an investment of present value to yield a specified future value over a number of periods.
This function has the following syntax:
IRATE(pv = value, fv = value, nper = value)
Arguments
Data Type
Description
pv
Float
Present value
fv
Float
Future value
nper
Integer
Number of periods
This function returns:
• Float—The interest rate per period
• Null—On error
Example—IRATE function:
/*  Calculate the interest rate needed for an
**  investment to increase from $10,000 to $25,000 in
**  10 periods.
*/
interest = irate(pv = 10000, fv = 25000, nper = 10);
Last modified date: 06/25/2024