Returns the nominal annual interest rate, given the effective rate and the number of compounding periods per year.
Syntax
NOMINAL(effect_rate,npery)
Effect_rate is the effective interest rate.
Npery is the number of compounding periods per year.
Remarks
 Npery is truncated to an integer.
 If either argument is nonnumeric, NOMINAL returns the #VALUE! error value.
 If effect_rate ≤ 0 or if npery < 1, NOMINAL returns the #NUM! error value.
 NOMINAL is related to EFFECT as shown in the following equation:
Example
The example may be easier to understand if you copy it to a blank worksheet.
How to copy an example
 Create a blank workbook or worksheet.
 Select the example in the Help topic.
Note Do not select the row or column headers.
Selecting an example from Help
 Press CTRL+C.
 In the worksheet, select cell A1, and press CTRL+V.
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A 
B 
Data 
Description 
5.3543 % 
Effective interest rate 
4 
Number of compounding periods per year 
Formula 
Description (Result) 
=NOMINAL(A2,A3) 
Nominal interest rate with the terms above (0.0525 or 5.25 percent) 
