Returns the nominal annual interest rate, given the effective rate and the number of compounding periods per year.
Effect_rate is the effective interest rate.
Npery is the number of compounding periods per year.
- 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:
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|Effective interest rate
||Number of compounding periods per year
||Nominal interest rate with the terms above (0.0525 or 5.25 percent)