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RATE1

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(RATE1(fv,pv,per))

 

Returns the periodic interest rate required to return the future value, fv, based on the present value, pv, over the number of compounding periods, per.

 

In the following example, RATE1 returns the interest rate you must have if your initial investment is $8,500 and you want a future yield of $10,000 after 24 months. The value of vrate1 (the interest rate) is .0068, a monthly rate of .68 percent, or 8.16% annually.

 

SET VAR vrate1 = (RATE1(10000,8500,24))