This Week’s Tip : Microsoft Excel – RATE Function
Microsoft Excel – RATE Function
DID YOU KNOW … that the RATE function in Excel is a tool that can help you figure out the interest rate for a loan over time?
It calculates the rate for each payment period (like monthly or yearly), and if you need the annual rate, you can just multiply the result by 12. Since finding the exact interest rate isn’t always straightforward, Excel works through multiple guesses (iterations) until it gets a precise answer. It’s like trial and error but done super fast!
Take a few minutes to learn more and give it a go. Click the play button below to get started.
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