Financial =RATE(nper, pmt, pv, [fv], [type], [guess])

Quiz =RATE — 15 Questions

15 quiz questions about =RATE — test syntax, arguments, examples & errors!

Questions: 10 questions 15 questions Random 10 or 15 questions from the pool + shuffled options each time

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Progress — 15 questions 1 of 15

Question 1 of 15 1/15

How many optional arguments does =RATE have?

Question 2 of 15 2/15

Is argument “guess” required in =RATE?

Question 3 of 15 3/15

What is the output type of =RATE?

Question 4 of 15 4/15

What is the type of argument “pmt” in =RATE?

Question 5 of 15 5/15

Is argument “pmt” required in =RATE?

Question 6 of 15 6/15

How many arguments does =RATE have in total?

Question 7 of 15 7/15

Which formula is a valid example of =RATE?

Question 8 of 15 8/15

What is the type of argument “type” in =RATE?

Question 9 of 15 9/15

Is argument “pv” required in =RATE?

Question 10 of 15 10/15

Which statement about =RATE is correct?

Question 11 of 15 11/15

What is the type of argument “fv” in =RATE?

Question 12 of 15 12/15

Which function is NOT related to =RATE?

Question 13 of 15 13/15

What is the type of argument “guess” in =RATE?

Question 14 of 15 14/15

Since which Excel version is =RATE available?

Question 15 of 15 15/15

What is the type of argument “nper” in =RATE?

Click a question to see the answer.

1. How many optional arguments does =RATE have?

A. 2
B. 3 ✓
C. 4
D. 5

Explanation: =RATE has 3 required, 3 optional (6 total).

2. Is argument “guess” required in =RATE?

A. —
B. Yes
C. No ✓
D. No

Explanation: “guess” is optional.

3. What is the output type of =RATE?

A. Number ✓
B. Value
C. Text
D. Date

Explanation: Output is “Number”.

4. What is the type of argument “pmt” in =RATE?

A. Logical
B. Number ✓
C. Array
D. Text

Explanation: Type of “pmt” is “Number”.

5. Is argument “pmt” required in =RATE?

A. —
B. No
C. Yes ✓
D. Yes

Explanation: “pmt” is required.

6. How many arguments does =RATE have in total?

A. 8
B. 7
C. 6 ✓
D. 5

Explanation: =RATE has 3 required, 3 optional (6 total).

7. Which formula is a valid example of =RATE?

A. RATE(A2*12, A3, A4)
B. =IRR(A2*12, A3, A4)
C. =RATE(A2*12, A3, A4, 0)
D. =RATE(A2*12, A3, A4) ✓

Explanation: Correct example: =RATE(A2*12, A3, A4)

8. What is the type of argument “type” in =RATE?

A. Number ✓
B. Value
C. Text
D. Reference

Explanation: Type of “type” is “Number”.

9. Is argument “pv” required in =RATE?

A. No
B. —
C. Yes
D. Yes ✓

Explanation: “pv” is required.

10. Which statement about =RATE is correct?

A. Volatile and recalculates every time
B. Only works in old versions
C. Text is always ignored
D. Make sure that you are consistent about the units you use for specifying guess and nper. If you make monthly payments on a four-year loan at 12 percent annual interest, use 12%/12 for guess and 4*12 for nper. If you make annual payments on the same loan, use 12% for guess and 4 for nper. ✓

Explanation: Correct: Make sure that you are consistent about the units you use for specifying guess and nper. If you make monthly payments on a four-year loan at 12 percent annual interest, use 12%/12 for guess and 4*12 for nper. If you make annual payments on the same loan, use 12% for guess and 4 for nper.

11. What is the type of argument “fv” in =RATE?

A. Value
B. Number ✓
C. Reference
D. Mixed

Explanation: Type of “fv” is “Number”.

12. Which function is NOT related to =RATE?

A. NPER
B. PMT
C. FINV ✓
D. IRR

Explanation: “FINV” is not related to RATE.

13. What is the type of argument “guess” in =RATE?

A. Number ✓
B. Logical
C. Array
D. Reference

Explanation: Type of “guess” is “Number”.

14. Since which Excel version is =RATE available?

A. Excel 365
B. Excel 2007 (Compatibility)
C. All versions ✓
D. Excel 2019

Explanation: Version: “All versions”.

15. What is the type of argument “nper” in =RATE?

A. Value
B. Logical
C. Number ✓
D. Array

Explanation: Type of “nper” is “Number”.