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NOMINAL |
  
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NOMINAL |
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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