# NOMINAL

## Content

This function returns the nominal annual interest rate for a given effective rate and number of compounding periods per year.

## Syntax

`NOMINAL(effrate, comper)`

## Arguments

This function has these arguments:

| Argument | Description |
| -------- | ----------- |
| *effrate* | Value representing the effective interest rate |
| *comper* | Number of compounding periods per year; if not an integer, the number is truncated |

## Remarks

This function returns a #VALUE! error if effrate or comper is nonnumeric. If effrate is less than or equal to 0 or if comper is less than 1, a #NUM! error is returned.

## Data Types

Accepts numeric data for all arguments. Returns numeric data.

## Examples

`NOMINAL(A4,A5)`

`NOMINAL(R4C1,3)`

`NOMINAL(6.2336%,2)` gives the result 0.061393703

`NOMINAL(6.2336%,6)` gives the result 0.060776004