Calculates the yearly nominal interest rate, given the effective rate and the number of compounding periods per year.
NOMINAL(Effective Rate; NPerY)
Effective Rate is the effective interest rate
NPerY is the number of periodic interest payments per year.
What is the nominal interest per year for an effective interest rate of 13.5% if twelve payments are made per year.
=NOMINAL(13.5%;12) = 12.73%. The nominal interest rate per year is 12.73%.