NPER, RATE, PAYMENT Question

  • Thread starter Thread starter Wilson
  • Start date Start date
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Wilson

I.m trying to make a fomr to calculate payments and all
information for a loan.
The NPER function works fine, but the RATE function
doesn't.
It always shows an error number 5 "Invalid Procedure Call
or argument).
I'm trying even with the function alone and I have the
same error:
Loan= 76000
NPER=360
Payment: 524
The Rate should be something around 7.3%
vrate=RATE(360, 524, -76000, , 1) / 12
What's wrong here?

Thank you in advance!
 
Wilson said:
I.m trying to make a fomr to calculate payments and all
information for a loan.
The NPER function works fine, but the RATE function
doesn't.
It always shows an error number 5 "Invalid Procedure Call
or argument).
I'm trying even with the function alone and I have the
same error:
Loan= 76000
NPER=360
Payment: 524
The Rate should be something around 7.3%
vrate=RATE(360, 524, -76000, , 1) / 12
What's wrong here?

Thank you in advance!
Click to expand...

Looking at the help file entry for the function, I think the payment
amount should be passed as a negative number.
 
Dirk Goldgar said:
Looking at the help file entry for the function, I think the payment
amount should be passed as a negative number.
Click to expand...

And shouldn't the loan amount be passed as a positive number?
 
I've tried everything, and nothing works.
Yes, usually Loan amount should be negative.
This is something very easy in Excell, I really don;t
know what is the problem in Access.
 
Wilson said:
I've tried everything, and nothing works.
Yes, usually Loan amount should be negative.
This is something very easy in Excell, I really don;t
know what is the problem in Access.
Click to expand...

In the Immediate Window:

?RATE(360.0, -524.0, 76000,,1)
6.1832378676677E-03
 
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