Assume the PV=100, FV=150, yearly IR=X, number of period = 60 (5 years of interest and compounding is monthly basis)


FV = PV * (1 + X / 12)^60 

How can I calculate X easily?

Technically I can use (root(FV/PV))-1)*12, where root(N) is the 60th root of N. But is there any existing function I can use such as PV and FV?

1 Answer 1


Yes, and it's called RATE. Example of usage:


calculates the percentage required for growing $100 to $150 over 60 interest payment periods, while taking out $0 each period. The answer is 0.68%. Wolfram Alpha agrees.

The complete list of financial functions in Google Spreadsheets is here.

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