[Excel Financial Functions] Not able to pass Rate parameter in FinancialNPer function

Forge Component
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Published on 2010-08-20 by Pedro Carrilho
1 vote
Published on 2010-08-20 by Pedro Carrilho
Hi,

I'm having problems using the function FinancialNPer and FinancialPMT.
It's working only when the rate in 0. Imagine that the rate is 0.49 and I got an error in ServiceCenter: "Value was either too large or to small for a Decimal"

I don't understand why

In Excel we must put a percentage in the value like this:
=NPER(0,49%;-1000;10000;0)

But your function on rate parameter is asking for a decimal.

Can you help me?

Thank you.

Kind regards,
Nuno Oliveira


If all of our problems were like this one, we will be very happy.
The problem was simple. I was trying to pass in the rate parameter 0.49... tried to pass 0.49%
The solution is to calculate 0.49% which is 0.0049 and pass this value and it's working

Thanks

Kind regards,
Nuno Oliveira

Nuno Oliveira wrote:


If all of our problems were like this one, we will be very happy.
The problem was simple. I was trying to pass in the rate parameter 0.49... tried to pass 0.49%
The solution is to calculate 0.49% which is 0.0049 and pass this value and it's working

Thanks

Kind regards,
Nuno Oliveira

Hi Nuno,

I know it's been a few years since you posted this but I was wondering if the Financial Function in forge working as expected?

I am trying to use the PMT against the Excel PMT and I cannot seem to arrive at the same result.

Hoping you can shed some light on this.

best regards,
Michael


Hi Michael,

Working like a charme!


I will give you a clue of the inputs that we are using for you check if you are puttin them nice:


Rate: InterestRateToUse / 12 / 100

nper:NumberOfMonths

pv: -FinancialAmount

fv: BalloonPayment

typ: NullObject()


Good luck!


Nuno Oliveira wrote:

Hi Michael,

Working like a charme!


I will give you a clue of the inputs that we are using for you check if you are puttin them nice:


Rate: InterestRateToUse / 12 / 100

nper:NumberOfMonths

pv: -FinancialAmount

fv: BalloonPayment

typ: NullObject()


Good luck!


Thanks Nuno for the clue...:)


Solution

Nuno Oliveira wrote:

Hi Michael,

Working like a charme!


I will give you a clue of the inputs that we are using for you check if you are puttin them nice:


Rate: InterestRateToUse / 12 / 100

nper:NumberOfMonths

pv: -FinancialAmount

fv: BalloonPayment

typ: NullObject()


Good luck!


Hi Nuno,

Just want to ask if you were able to use the FinancialRate?  

If Yes,Not sure why It cannot compute for the Rate, Input Parameter are as follow:

NPER: 48(48 Months)
PMT: 6307.00(Monthly Amortization)
PV: 157.6755 (I used the FinancialPv to get the value base on the Input Parameter Term(48), Rate (40),Monthly Amortization (6307.00))
FV: -1
TYP: ToObject(0)
GUESS:1


Solution

Hi Michael,

So the rate is the first parameter right?

Imagine that the cost of the money is 4.1%, so the rate that the action will use is = 4.1% /12 months / 100 get the number without %

"Rate: InterestRateToUse / 12 / 100

nper:NumberOfMonths

pv: -FinancialAmount

fv: BalloonPayment

typ: NullObject()"


Enjoy