There are two ways of specifying the Annual Rate in this function:
- If you specify a single Annual Rate, then that rate is used for all periodic repetitions of the basic function (the function name without the Per suffix).
- If you specify more than one Annual Rate then the function will treat each Annual Rate as applying to successive repetitions, with the first rate applying to the period denoted by Start and Finish. If the function "runs out" of AnnualRates to use (because the number of periodic repetitions is greater than the number of AnnualRates), the function will continue to use the last Annual Rate. So there is a clear difference in effect between specifying a number of AnnualRates where they are all blank except the first one, and just specifying one AnnualRate.