The RRI function calculates the interest rate required for an investment to grow from a beginning value to a future value over a specified number of periods. It is useful for determining the annual or periodic yield needed to reach a specific financial goal.
=RRI(5, 1000, 1500)→0.08447Calculates the interest rate required for 1,000 to grow to 1,500 over 5 periods.
Select the cell
Click on the cell where you want to calculate the interest rate.
Enter the formula
Type =RRI(nper, pv, fv) and replace the arguments with your specific values or cell references.
The function will return the #NUM! error if nper <= 0 or if pv and fv are not greater than zero.