# Rate - script and chart function

This function returns the interest rate per period on annuity. The result has a default number format of Fix two decimals and %.

Syntax:

Rate(nper, pmt , pv [ ,fv [ , type ] ])

Return data type: numeric.

The rate is calculated by iteration and can have zero or more solutions. If the successive results of rate do not converge, a NULL value will be returned.

Arguments:

Arguments

| Argument | Description |
| --- | --- |
| nper | The total number of<br>payment periods in an annuity. |
| pmt | The payment made each<br>period. It cannot change over the life of the annuity. A payment is stated as a negative number, for example, -20. |
| pv | The present value, or<br>lump-sum amount, that a series of future payments is worth right now.<br>If pv is omitted, it is assumed<br>to be 0 (zero). |
| fv | The future value, or<br>cash balance, you want to attain after the last payment is made. If fv is omitted, it is assumed to be<br>0. |
| type | Should be 0 if payments<br>are due at the end of the period and 1 if payments are due at the beginning<br>of the period. If type is omitted,<br>it is assumed to be 0. |

[](https://help.qlik.com/en-US/sense/Subsystems/Hub/Content/Sense_Hub/Scripting/FinancialFunctions/Rate.htm)

#### Examples and results:

Scripting example

| Example | Result |
| --- | --- |
| What is the interest rate of a five-year<br>$10,000 annuity loan with monthly payments of $300?<br><br>`Rate(60,-300,10000)` | Returns 2.00% |