The total number of payment periods in an annuity.
The payment made each period and cannot change over the
life of the annuity. Typically, pmt includes principal and interest but no
other fees or taxes. If pmt is omitted, you must include the fv argument
for a meaningful equation.
The present value — the total amount that a series of future payments is worth now.
Optionalfv: number = 0The future value, or a cash balance you want to
attain after the last payment is made. If fv is omitted, it is assumed to
be 0 (the future value of a loan, for example, is 0). If fv is omitted,
you must include the pmt argument.
Optionaltype: 0 | 1 = 0The number 0 (zero) or 1 and indicates when
payments are due. Set type equal to 0 or omitted if payments are due at
the end of the period. Set type equal to 1 if payments are due at the
beginning of the period.
Optionalguess: number = 0.1Your guess for what the rate will be. If you
omit guess, it is assumed to be 0.1 (10 percent). If the calculation does
not converge, try different values for guess. The calculation usually
converges if guess is between 0 and 1.
The calculated interest rate per period of an annuity.
Calculates the interest rate per period of an annuity. The rate is calculated by iteration and can have zero or more solutions. If the successive results of this function do not converge to within 0.0000001 after 128 iterations, a RangeError is thrown.
Remarks:
rateandnper. If you make monthly payments on a four-year loan at 12 percent annual interest, use0.12 / 12forrateand4 * 12fornper. If you make annual payments on the same loan, use0.12forrateand4fornper.