Rate Function

[fibayne]

Hi,,,been trying in vain to use the Rate function that appears to be a built in function and also as below

Private Sub CalculateAPR()
txtAPR = Rate(txtNumberOfPayments, txtPaymentAmount, txtLoanAmount, 0, 0)
End Sub

Has anyone used the function that could help with what I'm doing wrong:banghead:
thanks in advance
Fi

 

[pbaldy]

I haven't used the function, but it would help to know what's going on. Do you get an error, if so what is it? Unexpected result? If so, give examples of the values being used, the result you're getting and what you expect.

 

[fibayne]

Hi Paul
the error I get is #Func! ...this function works fine in excel and has the same format/required fields

=RATE(nper,pmt,pv,fv,type,guess)
nper is number of periods of the loan, pmt is repayment amount each month, pv is present value (loan amount borrowed), fv,type,guess are optional and default to 0 if nothing is entered

the function doesn't seem to work whether I use the data entry fields on the form or key the amount direct to the formula in an unbound text box....does this help you see what may be going wrong ? thanks in advance Fi

 

[jdraw]

For more info, syntax and example

 

[pbaldy]

In an exceedingly brief test, I got errors when using 0 in the last argument, no error if I used a non-0 amount.