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.
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);