Excel RRI Function: Microsoft Excel is a spreadsheet program that helps to perform various mathematical operations using its built-in functions and formulas. On that note, here we come up with the RRI function of Excel to easily calculate the equivalent interest rate for the growth of an investment in your organization. It is quite simple for you to apply this function in the worksheet.
This article describes the description, basic syntax, and usage of the Excel RRI function. Get an official version of Microsoft Excel from the following link:
https://www.microsoft.com/en-in/microsoft-365/excel
Description of RRI Function
- It is one of the built-in functions in Microsoft Excel.
- The Excel RRI function calculates the equivalent interest rate for the growth of an investment.
Syntax
- Here, you will see the syntax of the RRI function.
- To apply this function on your spreadsheet, you have to select a cell and enter the formula in the following format.
- Once you enter the formula, just click on the Enter button to get the result.
=RRI(nper, pv, fv)
Argument Description:
- Nper (Required) – It is the number of periods for the investment.
- Pv (Required) – This is the present value of the investment.
- Fv (Required) – It is the future value of the investment.
Note: 1) The function returns the #VALUE! Error if any one of the input arguments contains a non-numeric character. 2) The #NUM! error occurs if either the nper or PV argument is zero or one of the supplied arguments is negative.
Examples
Let’s look at some examples of this RRI function and explore how it works in Microsoft Excel.
- Initially, you have to open your Excel workbook on your PC and launch a worksheet that has data.
- For example, we have given the input values of the year, present value, and future value in columns B, C, and D. And we will get the interest rate using the RRI function.
- Then, you have to enter the formula in the cell as shown below to get the result.
- After entering the formula, you need to click the Enter button to get the output, as shown below. You can drag down the cell to fill the remaining cells.
Input that Causes Error
- The #VALUE! error will be returned if any one of the input arguments contains a non-numeric character.
- If either Nper or Pv value is 0 (zero) or any one of the arguments is negative, then the function returns the #NUM! error.
Verdict
In the above short article, we have described the explanation, syntax, and usage of the Excel RRI function in the spreadsheet with examples. Hope it is useful to you. Kindly, share your feedback in the below comment section. To learn more about Excel functions, then visit our webpage Aawexcel.com.
Video Tutorial
The following video will show you how to apply the Excel RRI function in the worksheet.
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Hi there, I’m Sridhar – an Excel enthusiast with over 10 years of experience working with software. I’m passionate about using Excel to solve complex problems and streamline business processes. Over the years, I have helped businesses of all sizes to improve their operations and save time and money.
Aside from working with Excel, I also enjoy writing and sharing my knowledge with others. You’ll often find me contributing to the AAW Excel blog, where I provide tips, tricks, and tutorials that are easy to understand for readers of all skill levels.
