# Documentation/Calc Functions/NOMINAL

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## Function name:

NOMINAL

## Category:

Financial Analysis

## Summary:

Calculates the yearly nominal interest rate, given the effective rate and the number of compounding periods per year.

## Syntax:

NOMINAL(**Effective Rate**; **NPerY**)

## Returns:

Returns a non-negative real number (expressed as a percentage or fraction) which is the annual nominal interest rate for the given arguments.

## Arguments:

**Effective Rate** is a positive real number (expressed as a percentage or fraction) or a reference to the cell containing that number which is the effective interest rate.

**NPerY** is a positive whole number or a reference to the cell containing that number which is the number of periodic interest payments per year.

- If
**Effective Rate**is less than or equal to 0 then the function returns an error value. - If
**NPerY**is not an integer then it is truncated to an integer. - If after truncation
**NPerY**is less than 1 then the function returns an error value.

## Additional details:

- Suppose that P is the present value, NPerY is the compounding periods per year, the future value after one year is

The mapping between the nominal rate and the effective rate is

## Examples:

Formula | Description | Returns |
---|---|---|

=NOMINAL(13.5%;12) | The function calculates the nominal interest per year for an effective interest rate of 13.5% if twelve payments are made per year. | 12.73%. |

=NOMINAL(0.135;12) | The function calculates the nominal interest per year for an effective interest rate of 13.5% if twelve payments are made per year. | 12.73%. |

=NOMINAL(0;12) | The function returns an error value since Efective Rate is 0. |
Err:502 |

## Related LibreOffice functions:

## ODF standard:

## Equivalent Excel functions:

NOMINAL