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NOMINAL
This function returns the nominal annual interest rate for a given effective rate and number of compounding periods per year.
Syntax
NOMINAL(effrate, comper)
Arguments
This function has these arguments:
Argument | Description |
|---|---|
effrate | [Required] Value representing the effective interest rate |
comper | [Required] Number of compounding periods per year; if not an integer, the number is truncated |
Remarks
This function returns a #VALUE! error if effrate or comper is nonnumeric. If effrate is less than or equal to 0 or if comper is less than 1, a #NUM! error is returned.
Examples
NOMINAL(A4,A5)
NOMINAL(R4C1,3)
NOMINAL(6.2336%,2) gives the result 0.061393703
NOMINAL(6.2336%,6) gives the result 0.060776004