Numeric. Number of periods or payments. Must be greater than 0.

Numeric. Payment amount due per period. Must be a negative number.

Numeric. Lump-sum amount that a series of future payments is worth now.

Numeric. Cash balance you want to attain after the last payment. For example, the future value of a loan is 0. If you omit this argument, RATE uses 0.

Boolean. Timing of the payment. Enter 1 if payment is at the beginning of period. Enter 0 if payment is at the end of the period. Default is 0. If you enter a value other than 0 or 1, the

Data Integration Service

treats the value as 1.