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)
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);