RRI Function Explained
The RRI Function in Microsoft Excel calculates the interest rate required for an investment to reach a specified future value over a specified number of periods. It takes three arguments: the present value, the future value, and the number of periods. It returns the interest rate as a decimal number.
RRI Function Syntax
RRI(nper, pv, fv)
- nper: The total number of payment periods in an annuity.
- pv: The present value, or the total amount that a series of future payments is worth now.
- fv: The future value, or a cash balance you want to attain after the last payment is made.