NOMINAL
Returns the annual nominal interest rate.
FinancialFinance & Accounting
What it does
Calculates nominal interest rate from effective rate.
Syntax
NOMINAL(effect_rate, npery)
Arguments
effect_rate(number) — Effective rate.npery(number) — Periods per year.
Examples
Nominal Rate
Find nominal from 10.47% effective.
FORMULA
=NOMINAL(0.1047, 12)
RESULT
0.1
SAMPLE DATA
| A | B | |
|---|---|---|
| 1 | Effect | Per |
| 2 | 0.1047 | 12 |