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Effective Annual Interest Rate

NOMINAL

  • May 31, 2023
Definition: NOMINAL is a function that returns the annual nominal interest rate given the effective rate and the number of compounding periods per year. Syntax: =NOMINAL(effect_rate, npery) Situation:...
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EFFECT

  • May 31, 2023
Definition: EFFECT is a function that returns the effective annual interest rate based on a nominal interest rate and the number of compounding periods per year. Syntax: =EFFECT(nominal_rate,...
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