Excel RATE() function in Java behaving slightly differently
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  1. #1
    Join Date
    Jan 2013
    Posts
    2

    Excel RATE() function in Java behaving slightly differently

    Hi guys,

    Just wanted to check something. I have the following function below which is the equivalent of the RATE function in Excel

    In Excel, if I do the following in any cell: =RATE(68, -118161.59, 4146470.27) - it gives me: 2.2014989%

    However, the below code gives me: 0.0220150136..

    I am expecting it to give me 0.0022014989

    It is only marginally out, but can anyone point me why it is marginally out?

    Any help would be much appreciated

    Code:
    	public static void main(String[] args) 
    	{
    		double rate1 = Financials.rate(68, 118161.59, 4146470.27);
    		System.out.println(rate1);
    		System.out.println("finished");
    
    	}
    Code:
    	public static double rate(double nper, double pmt, double pv)
    	{       
    	    double error = 0.0000001; 
    	    double high =  1.00; 
    	    double low = 0.00;
    
    	    double rate = (2.0 * (nper * pmt - pv)) / (pv * nper);
    
    	    while(true) {
    	        // check for error margin
    	        double calc = Math.pow(1 + rate, nper);
    	        calc = (rate * calc) / (calc - 1.0);
    	        calc -= pmt / pv;
    
    	        if (calc > error) {
    	            // guess too high, lower the guess
    	            high = rate;
    	            rate = (high + low) / 2;
    	        } else if (calc < -error) {
    	            // guess too low, higher the guess
    	            low = rate;
    	            rate = (high + low) / 2;
    	        } else {
    	            // acceptable guess
    	            break;
    	        }
    	    }
    
    	    //System.out.println("Rate : "+rate);       
    	    return rate; 
    	}
    Last edited by capricorn86; March 23rd, 2014 at 05:47 AM.

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