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EXCEL RRI FUNCTION
Excel RRI Function Introduction
The Excel RRI function computes the equivalent interest rate for a particular current value, future value, and period of an investment.
Description of Excel RRI Function
Syntax :
=RRI( nper, pv, fv )
Parameters :
- Nper – The number of periods that the investment is made over.
- Pv – The investment’s present value.
- Fv – The investment’s future worth.
Step By Step Guide of RRI Function
Example :
The Excel RRI function was used to compute the interest rate necessary for a $10,000 investment to grow to a value of $15,000 over ten periods. The above method yields a result of 0.041379744, or 4.14 percent. For example, an interest rate of 4.14 percent per period would be necessary for a $10,000 investment to grow to a value of $15,000 over ten periods.
Key Points
- #VALUE! – This error occurs if any of the supplied parameters is not a number.
- #NUM! – This error occurs if either the nper or the pv argument is zero, or if any of the supplied arguments is negative.
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