Periodic interest rate of annuity
Rate = annurate(NumPeriods,Payment,PresentValue,FutureValue,Due)
Number of payment periods.
Payment per period.
Present value of the loan or annuity.
(Optional) Future value of the loan or annuity. Default
(Optional) When payments are due:
Rate = annurate(NumPeriods,Payment,PresentValue,FutureValue,Due) returns
the periodic interest rate paid on a loan or annuity.
This example shows how to find the periodic interest rate of a four-year, $5000 loan with a $130 monthly payment made at the end of each month.
Rate = annurate(4*12, 130, 5000, 0, 0)
Rate = 0.0094
Rate multiplied by 12 gives an annual interest rate of 11.32% on the loan.