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Financial
The Excel INTRATE function returns the interest rate for a fully invested security (one that pays only at maturity). Settlement and maturity are dates wrap them in DATE() so Excel reads them correctly..
Quick answer:
=INTRATE(DATE(2026,1,1), DATE(2027,1,1), 10000, 10600) // rate for a fully invested security
Syntax
=INTRATE(settlement, maturity, investment, redemption, [basis])
| Argument | Description | |
|---|---|---|
settlement | Required | Settlement date. |
maturity | Required | Maturity date. |
investment | Required | Amount invested. |
redemption | Required | Amount received at maturity. |
basis | Optional | Day-count basis. |
How to use it
INTRATE returns the interest rate for a fully invested security (one that pays only at maturity). Settlement and maturity are dates wrap them in DATE() so Excel reads them correctly..
=INTRATE(DATE(2026,1,1), DATE(2027,1,1), 10000, 10600) // rate for a fully invested security
Try it: interactive demo
Live demo
This is the formula pattern INTRATE uses — copy it into Excel with your own numbers.
Result: computed in Excel
Practice workbook
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Frequently asked questions
How do I enter the dates?
Wrap settlement and maturity in DATE(year,month,day) so Excel reads real dates, not text.
Which Excel versions support it?
All modern versions.
Why might it return #NUM! or #VALUE!?
Out-of-range arguments (e.g. negative rate or settlement after maturity) give #NUM!; non-numeric inputs give #VALUE!.
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