=RATE(number of payments, monthly paymet amount as negative value, total amount owed)
E.G. =RATE(27,-890,10000) = 7.70%
The percentage value of 7.70% tells you the rate of interest that you will pay during the course of 27 payments; at the amount of 890; with a total initially owed of 10,000.
E.G. =RATE(27,-890,10000) = 7.70%
The percentage value of 7.70% tells you the rate of interest that you will pay during the course of 27 payments; at the amount of 890; with a total initially owed of 10,000.
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