Functions
NOMINAL
Nominal annual interest rate
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When to use it
When should I use NOMINAL?
Use NOMINAL to convert an effective annual rate back to the equivalent nominal rate compounded at a given frequency — the reverse of EFFECT, useful when comparing loan products quoted differently.
Used in
finance · lending · personal-finance
Syntax
NOMINAL(effect_rate, npery)Examples
=NOMINAL(0.85,12) // => 0.6312274853524098