INTRATE Function
The INTRATE function is one of the financial functions. It is used to calculate the interest rate for a fully invested security that pays interest only at maturity.
The INTRATE function syntax is:
INTRATE(settlement, maturity, pr, redemption[, [basis]])
where
settlement is the date when the security is purchased.
maturity is the date when the security expires.
pr is the amount paid for the security.
redemption is the amount received for the security at maturity.
basis is the day count basis to use, a numeric value greater than or equal to 0, but less than or equal to 4. It is an optional argument. It can be one of the following:
| Numeric value | Count basis |
| 0 | US (NASD) 30/360 |
| 1 | Actual/actual |
| 2 | Actual/360 |
| 3 | Actual/365 |
| 4 | European 30/360 |
Note: dates must be entered by using the DATE function.
The values can be entered manually or included into the cell you make reference to.
To apply the INTRATE function,
- select the cell where you wish to display the result,
-
click the Insert Function
icon situated at the top toolbar,
or right-click within a selected cell and select the Insert Function option from the menu,
or click the
icon situated at the formula bar,
- select the Financial function group from the list,
- click the INTRATE function,
- enter the required arguments separating them by commas,
- press the Enter button.
The result will be displayed in the selected cell.
