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Formula Functions / Functions M to Q / 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

    Version Available

    This function is available in product version 1.0 or later.

    See Also

    EFFECT | INTRATE | Financial Functions