Apple Numbers '08 - Manual (Page 265)

Chapter 12 Dictionary of Functions 265
Notes
Equal numbers are ranked the same, but each counts as a rank position, so the next
different number doesn’t get the next rank position. (Just like in sports competitions, if
there’s a tie for first place, the next competitor gets third place, not second.) See the
examples.
RATE
The RATE function calculates the interest rate of an annuity (a fixed sum paid
periodically over a specified period of time). If either present-value or num-periods is 0,
the function returns an error.
RATE(num-periods, [payment], present-value, [future-value], [when-due], [estimate])
 num-periods: The number of payment periods.
 payment: Optional; the amount of the fixed, periodic payment. If omitted, you must
include future-value.
 present-value: The present value of the investment.
 future-value: Optional; the future value of the investment. If omitted, is assumed to
be 0.
 when-due: Optional; specifies whether payments are made at the beginning or end
of each period:
0 (or omitted) means payments are at the end of each period.
1 means payments are at the beginning of each period.
Examples
Given the following table:
RANK(20, A2:E8) returns 7.
RANK(20, A2:E2) returns 4 (50 ranks first).
RANK(20, A2:E2, 1) returns 2 (10 ranks first).
RANK(10, A4:E4) returns 5 (10 is the smallest in the range).
RANK(4, A6:E7, 1) returns 4.
RANK(5, A6:E7, 1) returns 6 (because there are two 4’s).