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Microsoft® Excel® 2010 Formulas & Functions Inside Out by Helmut Reinke Egbert Jeschke Sara Unverhau, Eckehard Pfeifer, Bodo Fienitz, and Jens Bock

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NOMINAL()

Syntax. NOMINAL(Effect_Rate,Npery)

Definition. This function calculates the nominal interest rate which (finance mathematically) leads to equivalence from a given effective interest rate.

Arguments

  • Effect_Rate (required) The given effective annual interest rate, determined from the compound interest of an intra-annual yield.

  • Npery (required) The number of interest periods per year. If the Npery argument is a number with decimal places, it is truncated to an integer. The result must be greater than zero. Otherwise, NOMINAL() returns the error #NUMBER!. If one of the arguments is not a numeric expression or if Effect_Rate is not positive, NOMINAL() also returns the #NUMBER! error.

Background. For various financial transactions (such as mortgage ...

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