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

Quiz =RATE — 10 Questions

10 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 — 10 questions 1 of 10

Question 1 of 10 1/10

Is argument “guess” required in =RATE?

Question 2 of 10 2/10

How many required arguments does =RATE have?

Question 3 of 10 3/10

Which statement about =RATE is correct?

Question 4 of 10 4/10

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

Question 5 of 10 5/10

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

Question 6 of 10 6/10

Which is the correct syntax of =RATE?

Question 7 of 10 7/10

What is the output type of =RATE?

Question 8 of 10 8/10

Does =RATE return a dynamic array?

Question 9 of 10 9/10

How many arguments does =RATE have in total?

Question 10 of 10 10/10

Is argument “type” required in =RATE?

Click a question to see the answer.

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

A. —
B. Yes
C. No ✓
D. No

Explanation: “guess” is optional.

2. How many required arguments does =RATE have?

A. 2
B. 4
C. 3 ✓
D. 5

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

3. Which statement about =RATE is correct?

A. Requires add-in
B. 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. ✓
C. Select entire column for best performance
D. Output is always a dynamic array

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.

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

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

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

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

A. Array
B. Number ✓
C. Date
D. Value

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

6. Which is the correct syntax of =RATE?

A. =RATE(nper, pmt, pv, [fv], [type], [guess]) ✓
B. =IRR(nper, pmt, pv, [fv], [type], [guess])
C. =RATE(nper, pmt, pv, [fv], [type], [guess], 0)
D. RATE(nper, pmt, pv, [fv], [type], [guess])

Explanation: Correct syntax: =RATE(nper, pmt, pv, [fv], [type], [guess])

7. What is the output type of =RATE?

A. Value
B. Number ✓
C. Mixed
D. Text

Explanation: Output is “Number”.

8. Does =RATE return a dynamic array?

A. No
B. Yes
C. —
D. No ✓

Explanation: RATE does not spill.

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

A. 5
B. 7
C. 6 ✓
D. 8

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

10. Is argument “type” required in =RATE?

A. No
B. —
C. No ✓
D. Yes

Explanation: “type” is optional.