Note: In order to use the spreadsheet examples, you need to download Business Functions
|RateBF (PresentValue, DrawDate, NumPmts, Pmt, [FVOpt], [DayCount], [PrdsInt])|
|Annual interest rate (simple) of an annuity using industry values for interest daycount and period frequency.|
|...BF||BF version of an Excel function|
Remember when using this function that the interest rate is specified as a simple interest PER ANNUM, even when there is more than one payment per year. TheTerm is calculated internally in the funcytion based on your value of PrdsInt. This is different to Excel"s PMT function, where the interest rate relates the same period length as that inferred by the number of repayments.