Calculates the annual nominal interest rate given the effective rate and number of compounding periods per year.
Sample Usage
NOMINAL(0.85,12)
NOMINAL(A2,A3)
Syntax
NOMINAL(effective_rate, periods_per_year)
-
effective_rate- The effective interest rate per year. -
periods_per_year- The number of compounding periods per year.
See Also
INTRATE: Calculates the effective interest rate generated when an investment is purchased at one price and sold at another with no interest or dividends generated by the investment itself.
EFFECT: Calculates the annual effective interest rate given the nominal rate and number of compounding periods per year.