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).

(Rate([TotPmts], -[Payment], [PVal], [FVal], [PayType], [Guess]) * 12) * 100