Formulas > =NOMINAL()
How to Use NOMINAL() in Google Sheets
Description
How To Actually Use NOMINAL() in Sheets
NOMINAL(effective_rate, periods_per_year)
Try NOMINAL yourself
In cells A1 and A2, enter the effective interest rate and the number of compounding periods per year, respectively. Use the NOMINAL formula in cell A3 to calculate the annual nominal interest rate.
Hints (2)
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Make sure to enter the effective rate as a decimal.
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The number of periods should be a whole number.
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