I am usually pretty good with this stuff, but this is pissing me off, so if anyone can tell me WTF I am doing wrong let me know.
I am trying to find ROR of a project with a 5 year lifespan, initial cost of $31k, and annual cost of $18k
So, I used =RATE(5,18000,31000)
...and it gave me an error. I tried using negative values for both numbers (since they are both out going payments anyway) and still got an error which was expected because I still get a positive value when they are divided. I did it by hand and got a ROR of 51%, so why won't Excel do it? Because the fraction is positive?