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RATE2

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(RATE2(fv,pmt,per))

 

Returns the periodic interest rate on a series of regular payments, pmt, whose future value is fv over the number of compounding periods, per.

 

In the following example, RATE2 returns the interest rate you must have if your goal is $37,000 and you deposit $500 each month for five years. The value of vrate2 is .0069, a monthly rate of .69 percent, or 8.28% annually.

 

SET VAR vrate2 = (RATE2(37000,500,60))