Returns the nominal annual interest rate, given the effective rate and the number of compounding periods per year.
Sample Usage
NOMINAL(3.11,12)
NOMINAL(C5,C6)
Syntax
NOMINAL(effective_rate, periods_year)
- effective_rate - The effective interest rate per year.
- periods_year - The number of compounding periods per year.
Examples
NOMINAL(3.11,12) returns 1.5 - the nominal annual interest rate for the given the effective rate and the number of compounding periods per year.