Excel compound interest rate function
What's compound interest and what's the formula for compound interest in Excel be worth after one year at an annual interest rate of 8%? The answer is $108. 29 Jan 2018 RATE is an Excel function that calculates the interest rate that applies to a system of present value, periodic equidistant equal cash flows and/or P' is the new principal sum; n is the compounding frequency; r is the nominal annual interest rate; t is the overall length of time the interest is applied ( expressed