Description
The POWER function raises the value of its first argument to the power of the second argument.
Usage
POWER(base, exponent)
Arguments
| Argument | Required | Expected Type | Description |
|---|---|---|---|
| base | Yes | Number | The base number |
| exponent | Yes | Any | The exponent to which the base number is raised |
Result
Returns the result of a number raised to a power.
Example
When tracking Official Development Assistance (ODA), it's often important to consider the grant element of a loan made on favorable terms.
If we have form for tracking lump sum principal loans, with fields for the interest rate (RATE), the discount rate (DISCOUNT_RATE), and the number of terms (NUM_TERMS), then the grant element can be calculated as:
(1 - RATE/DISCOUNT_RATE) * (1 - POWER(1 + DISCOUNT_RATE, -NUM_TERMS))