---
url: /cube-functions/rate.md
description: >-
  Calculates the interest rate per period of an annuity investment based on
  constant-amount periodic payments and the assumption of a constant interest
  rate.
---

# RATE

Calculates the interest rate per period of an annuity investment based on constant-amount periodic payments and the assumption of a constant interest rate.

```js
RATE(nper, pmt, pv, fv, type, guess)
```

#### Parameters

* `nper` - The total number of payments for the annuity investment.
* `pmt` - The amount of each payment for the annuity investment.
* `pv` - The present value, or the total amount of the annuity investment.
* `fv` - The future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0. `(optional)`
* `type` - The number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0. `(optional)`
* `guess` - An estimate of the interest rate. If guess is omitted, it is assumed to be 0.1 (10%). `(optional)`

#### Examples

```js
RATE(12, -100, 10000)
```

**Result:** `-0.23`

**Note:** Calculates the interest rate per period of an annuity investment with 12 monthly payments of -$100 and a present value of $10,000.