Talk:Documentation/Calc Functions/NOMINAL

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SF Comments

(1) Summary. Suggest replacing with “Calculates the nominal interest rate, given the effective rate and the number of compounding periods”.
(2) Returns. Insert “decimal” before “fraction”. Delete “annual”. Maybe state that the default formatting is as a percentage, while the Excel NOMINAL function does not return the value formatted as a percentage?
(3) Arguments, Effective Rate. Insert “decimal” before “fraction”.
(4) Arguments, NPerY. Change “whole number” to “integer”.
(5) Additional details. Consider link to Wikipedia’s “Nominal interest rate” page.
(6) Additional details. The somewhat simpler formula in the code is = ( POWER( Effective Rate + 1.0, 1.0 / NPerY ) - 1.0 ) * NPerY;. Perhaps change to use this one?
(7) Additional details. May be worth stating that the calculation assumes that interest is credited at the end of exactly equal periods.

--Stevefanning (talk) 2020-11-20T19:07:01 (UTC)