Calculates the effective annual interest rate, given nominal annual interest rate and number of compounding periods per year.

**Sample Usage**

EFFECT(1,10)

EFFECT(C5,C6)

**Syntax**

EFFECT(nominal_rate, frequency)

- nominal_rate - The annualized rate of interest.

- frequency - The number of interest payments per year.

**Examples**

EFFECT(1,10) returns 1.5937 - the effective annual interest rate for the given nominal interest rate and number of compounding periods per year.