This is preliminary documentation and subject to change.
To comment on this topic, please send us email at ngwssdk@microsoft.com. Thanks!
Rate Function Example
This example uses the
Rate function to calculate the interest rate of a loan given the total number of payments (
TotPmts
), the amount of the loan payment (
Payment
), the present value or principal of the loan (
PVal
), the future value of the loan (
FVal
), a number that indicates whether the payment is due at the beginning or end of the payment period (
PayType
), and an approximation of the expected interest rate (
Guess
).
Dim Fmt, FVal, Guess, PVal, Payment, TotPmts, PayType, APR
Const ENDPERIOD = 0, BEGINPERIOD = 1 ' When payments are made.
Fmt = "##0.00" ' Define percentage format.
FVal = 0 ' Usually 0 for a loan.
Guess = .1 ' Guess of 10 percent.
PVal = InputBox("How much did you borrow?")
Payment = InputBox("What's your monthly payment?")
TotPmts = InputBox("How many monthly payments do you have to make?")
PayType = MsgBox("Do you make payments at the end of the month?", _
vbYesNo)
If PayType = vbNo Then PayType = BEGINPERIOD Else PayType = ENDPERIOD
APR = (Rate(
TotPmts,
-Payment,
PVal,
FVal,
PayType,
Guess)
* 12) * 100
MsgBox "Your interest rate is " & Format(CInt(APR), Fmt) & " percent."