This function returns the nominal annual interest rate for a given effective rate and number of compounding periods per year.
NOMINAL(effrate,comper)
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 |
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.
Accepts numeric data for all arguments. Returns numeric data.
NOMINAL(A4,A5)
NOMINAL(R4C1,3)
NOMINAL(6.2336%,2) gives the result 0.061393703
NOMINAL(6.2336%,6) gives the result 0.060776004