A vector of rates (either interest, indexation or salary increases) is composed of an odd number of contiguous worksheet cells (horizontal or vertical). The cells must contain:

Cell₁:

an annual rate, effective from time-0 to ...

Cell₂:

the effective period of the previous rate (in years, fraction allowed)

.....

.....

Cell_N-2:

an annual rate

Cell_N-1:

the effective period of the previous rate (in years, fraction allowed)

Cell_N:

the ultimate annual rate

See also: TruncVector, Vt, JS, JL, CERTAIN, LifeIns, PVSal.

Time-0 is the valuation date. In the JS function:

• time-0 coincides with Age1 both for interest and indexation rates,
• indexation will only be included after First age index (by default Age1 + Deferred + 1).

For ease of use in the various Excel formulas, the range of cells from Cell₁ to Cell_N can be contained in a named range.