2.1.1027 Part 1 Section 18.17.7.270, RATE
a. The standard does not define a default for the argument type.
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Office specifies that the argument type defaults to 0.
b. The standard states that the argument type may only be 0 or 1.
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In Office, if the argument type is nonzero the payment is at the beginning of the period.
c. The standard specifies that an iterative technique is used for the implementation of this function.
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Office does not use an iterative technique.