How can I use the RATE function in Google Sheets?
To use the RATE function in Google Sheets, you need to have a basic understanding of how it works. The RATE function is used to calculate the interest rate per period of a loan, investment, or other financial instruments. In order to use the function, you'll need to provide it with a set of arguments.
The syntax for the RATE function is:
=RATE(nper, pmt, pv, [fv], [type], [guess])
Where:
nper: The total number of payment periods in the annuitypmt: The payment made each periodpv: The present value (or amount borrowed)fv: The future value (or cash balance at the end of the annuity)type: The timing of the payment (0 for the end of the period, 1 for the beginning of the period)guess: Your guess of the interest rate per period
Once you have the arguments set up, you simply need to place them into the cells in your Sheet. For example, if you have your values entered into cells A1 through A6, you would use the formula:
=RATE(A1, A2, A3, A4, A5, A6)
After you've entered the formula, Google Sheets will calculate the interest rate per period and display it in the cell you selected.
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