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EFFECT
This function calculates the effective annual interest rate for a given nominal annual interest rate and the number of compounding periods per year.
Syntax
EFFECT(nomrate, comper)
Arguments
This function has these arguments:
Argument | Description |
|---|---|
nomrate | [Required] Nominal interest rate |
comper | [Required] Number of compounding periods; if not an integer, the number is truncated |
Remarks
The #VALUE! error is returned if either argument is non-numeric.
The #NUM error is returned if nomrate is less than or equal to zero or if comper is less than one.
Comper is truncated to an integer.
Examples
EFFECT(J12,B3)
EFFECT(R12C10,R3C2)
EFFECT(6.5%,8) gives the result 0.66878782