Returns
the interest rate per period.

## Syntax

RATE(`periods`, `payment`, `amount`)

## Parameters

`periods`
Numeric. The total number of periods.

`payment`
Numeric. The payment made each period.

`amount`
Numeric. The amount on which payments are based.

## Remarks

This function calculates the interest
rate per period implied by an annuity. It assumes that payments
are made at the end of the period.

You can use this function
to determine the rate of interest being paid on an annuity. For example,
if you have the option of leasing or buying, you can use this function
to determine the interest rate implied in the lease.

The result
is returned to eight decimal places, that is, 0.12345678 or 12.345678%.

## Example

To calculate the rate implied
in a four-year, $8000 loan with monthly payments of $200, specify:

`RATE(48,
200, 8000)`

returns **0.00770147**.This is the
monthly rate because the period is monthly. The annual rate is 0.0077*12,
which equals 9.24% compounded monthly, or an effective annual rate
of 9.64%, which can be calculated using the EFFECTIVE( )
function.