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 |
Value representing the effective interest rate |

comper |
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.

Data Types

Accepts numeric data for all arguments. Returns numeric data.

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

See Also