Calculates the annual nominal interest rate given the effective rate and number of compounding periods per year.
81% OFF online library of tutorials for mastering Google Sheets
NOMINAL()
Description
How To Use in Sheets
NOMINAL(effective_rate, periods_per_year)
External Links
Google Sheets Nominal Function | Nominal Interest Rate| Google Sheets Function
Use the Google Sheets NOMINAL function to get the nominal interest rate or the stated interest rate for an investment or a loan. The effective interest rate, in contrast to the nominal rate, is the actual rate of interest. The nominal interest rate does not consider interest compounding. For this reason, such a rate is typically lower than the effective rate.
0Better Sheets Tutorials
No videos featuring this formula, yet. Stay tuned! In the mean time check out blogs below, and more formulas here at Better Sheets.