NOMINAL (Rate, NumberOfPeriods) NOMINAL (Rate; NumberOfPeriods)

Rate

Number Number

The effective interest rate.

NumberOfPeriods

Number Number

The number of times interest is credited or compounded during the period that the nominal rate applies to.

Returns

Number Number

A nominal interest rate.

Returns the nominal interest rate, given the effective annual rate and the number of compounding periods per year. This is the inverse of EFFECT.

Example

NOMINAL (8.30 % , 12)
NOMINAL (8,30 % ; 12)

Returns roughly 8%, which is the nominal rate corresponding to an effective annual rate of 8.30% compounded monthly.

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