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Thread: HELP with Formula to calculate Interest Rate

  1. #1
    VBAX Newbie
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    HELP with Formula to calculate Interest Rate

    Having trouble making the RATE formula work. Tried the formula in the excel but get #NUM response. I would post the attachment here but this site will not let me.
    Last edited by SCF; 02-13-2016 at 01:11 PM.

  2. #2
    Moderator VBAX Guru Aussiebear's Avatar
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    The #Num! error occurs if you have failed to use a negative figure for the payment amount.
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  3. #3
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    Thank You

  4. #4
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    I thought it was solved because it gave me a % but when I checked it with my calculator I got a different %

  5. #5
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    This is the excel for formula =RATE(Z55/52,-Y55,R55)*-1
    NUMBERS …. Z55 = 182, Y55 = $55, R55=$3360
    Z55 = term( this is weekly payments) Y55 = weekly payment, R55 = Present value
    The formula calculates a 65% Yield …My calculator say 79.74%

    The figures Z55,Y55 and R55 are calculated formulas not direct entered ( if that makes a difference?)

  6. #6
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    I just tried the formula by direct entered numbers ( not formulas) does the same thing

  7. #7
    VBAX Sage
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    Your calculator is right, your Excel is wrong

    You're dividing by 52 in the wrong place, and you should be multiplying the RATE() by it

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    Last edited by Paul_Hossler; 02-16-2016 at 07:02 PM.
    ---------------------------------------------------------------------------------------------------------------------

    Paul


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  8. #8
    Moderator VBAX Guru Aussiebear's Avatar
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    I agree with Paul, as the need to divide the number of payments is outside the Nper requirements
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