Google Sheets RATE function
This post will guide you how to use Google Sheets RATE function with syntax and examples in google spreadsheet .
Table of Contents
Description
The Google Sheets RATE function returns the interest rate per payment period of an annuity.
The RATE function is a buildin function in Google Sheets and it is categorized as a Financial Function.
Syntax
The syntax of the RATE function is as below:
= RATE(number_of_periods, payment_per_period, present_value, [future_value, end_or_beginning, rate_guess])
Where the RATE function arguments are:

number_of_periods
This is a required argument. The total number of payments periods in an annuity. 
payment_per_period
– This is a required argument. The amount of the payment made each period. 
present_value
– This is a required argument. The present value of the payments. 
future_value
– This is an optional argument. 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 (zero), that is, the future value of a loan is 0. 
end_or_beginning
– This is an optional argument. The number 0 (zero) or 1 and indicates when payments are due.
Set type equal to  If payments are due 
0 or omitted  At the end of the period 
1  At the beginning of the period 

Guess
– This is an optional argument. An initial guess at the internal rate of return. if it is omitted, and it will be set as 0.1 or 10%.
Note:
 Make sure that you are consistent about the units you use for specifying rate and nper. If you make monthly payments on a fouryear loan at an annual interest rate of 12 percent, use 12%/12 for rate and 4*12 for number_of_periods. If you make annual payments on the same loan, use 12 percent for rate and 4 for number_of_periods.
Google Sheets RATE Function Examples
The below examples will show you how to use Google Sheets RATE Function to calculate the interest rate per period of an annuity.
#1 to get the monthly rate of the loan, using the following formula:
=RATE(B1*12,B2,B3)
See Also: Calculate Interest Rate in Google Sheets