The RATE Function[1]is an ExcelFinancial functionthat is used to calculate the interest rate charged on a loan or the rate of return needed to reach a specified amount on an investment over a given period. For a
=RATE(10*1, -1000, 6500) Result: 8.711%Example (as VBA Function) The RATE function can also be used in VBA code in Microsoft Excel. Let's look at some Excel RATE function examples and explore how to use the RATE function in Excel VBA code: Dim LValue As Double LValue = Rate(10*...
Example 3 – Use PMT Function to Determine the Periodic Loan Payment (In case of Down Payment) You have bought a car for$30000and as a down payment, you have paid 10% of the $30000. You have to pay the loan within5years at a5%annual interest rate. Calculate the monthly payment: Ste...
However, you can indirectly use a percentage in a formula that has the RATE function. I am going to discuss 2 such examples. Example 1: Let’s assume that you have borrowed $8000 for 4 years. The monthly payment is $200. Now, if you use the RATE function here, you will get a ...
Example (as Worksheet Function) Let's look at some Excel ACCRINT function examples and explore how to use the ACCRINT function as a worksheet function in Microsoft Excel: Based on the Excel spreadsheet above, the following ACCRINT examples would return: =ACCRINT(B1,B2,B3,B4,B5,B6,B7,B8) ...
RATE function calculates results by iteration and can have zero or more solutions. If the successive results of RATE do not converge to within 0.0000001 after 20 iterations, The function returns the #NUM! error value. Hope this article about How to use the RATE function in Excel is explanatory...
Because of how simple it is to understand and use the IFERROR Excel function, it is quite easy to combine it with other formulas to get clean-looking results. The spreadsheet below adds employees’ hours worked and paid time off, then multiplies that total by their hourly rate to calculate...
Tilde (~) is used to turn the wildcards (*, ? ~) into literal characters. Place tilde (~) in front of the wildcards to fulfill this function; In most cases, when we perform the XLOOKUP wildcard match function, we use the asterisk (*) character. Now let’s see how the wildcard...
VLOOKUP Function:Use the `VLOOKUP` function to search for the desired product and retrieve its price. =VLOOKUP(E2, A2:B6, 2, FALSE) It’s value will come up as #N/A IFNA Function:Now, incorporate the `IFNA` function to handle missing values. ...
So, What is the Excel $ function and how to use the $ function? Why is it important to understand the significance and purpose of the Excel $ function in Excel? In this step-by-step guide, we will discuss how to create a “$” in Excel and recommend the perfect software for you. ...