Argument | Required/ Optional | Description |
|---|---|---|
terms | Required | Numeric. Number of periods or payments. Must be greater than 0. |
payment | Required | Numeric. Payment amount due for each period. Must be a negative number. |
present value | Required | Numeric. Lump-sum amount that a series of future payments is worth now. |
future value | Optional | Numeric. Cash balance you want to attain after the last payment. For example, the future value of a loan is 0. If you omit this argument, RATE uses 0. |
type | Optional | Boolean. Timing of the payment. Enter 1 if payment is at the beginning of period. Enter 0 if payment is at the end of period. Default is 0. If you enter a value other than 0 or 1, Data Integration treats the value as 1. |