# How to use Excel INTRATE Function

## Introduction:-

INTRATE function in excel is a financial function. It is used to find interest rate of a fully invested security. It is a worksheet function and can be entered in the cell in which value is required.

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## Syntax:-

=INTRATE(settlement, maturity, investment, redemption, basis)

## Arguments:-

• Settlement: It is the date on which security is settled. It comes after issue date when security is rated to the buyer.
• Maturity: It is the date on which security will be matured.
• Investment: Initial investment
• Redemption: Total amount received at maturity.
• Basis: It is the type of day count basis to be used.

## Keynotes:-

• Microsoft Excel stores dates as serial numbers . By default, January 1, 1900 is serial number 1 and corresponding dates have serial number greater than 1.
• Settlement, Maturity and basis are converted to integers.
• If settlement or maturity is not in valid format, #VALUE error is returned.
• If Redemption and Investment are less than or equal to zero, #NUM error is displayed.
• If Basis is less than zero or greater than four, #NUM error is displayed.
• Formula for INTRATE calculation is:

## Examples

In this example, various arguments are entered in column A and their values are entered in column B and INTRATE function is used to retrieve the result in column D. Formula used for calculation is: