NOMINAL(effect_rate, npery) 
Returns the nominal interest rate over a period given an annual interest rate. 
effect_rate  The effective (or annual) interest rate for the year. 
npery  The number of compounding periods per year. 
Remarks 
* This function is closely related to the EFFECT function. * A nominal interest rate is an interest rate that is compounded over a specific period (yearly, monthly, daily, etc). * The Nominal Rate is also known as Stated Rate. * If any of the arguments are not numeric, then #VALUE! is returned. * The "effect_rate" can either be entered with a percentage sign or as a decimal. * If "effect_rate" = 0, then #NUM! is returned. * If "npery" is not an integer, it is truncated. * If "npery" < 1, then #NUM! is returned. * In the context of bonds, the coupons are examples of nominal interest rates. * For an illustrated example refer to the Interest Rates > Nominal Interest page. * In Excel 2007 the accuracy of this function was improved. * For the Microsoft documentation refer to support.microsoft.com 

1  If you have an effective interest rate of 5%, what is the nominal interest rate compounded yearly. 2  This is the same as 1. 3  If you have an effective interest rate of 5.062%, what is the nominal interest rate compounded semiannually. 4  If you have an effective interest rate of 5.116%, what is the nominal interest rate compounded monthly. 5  If you have an effective interest rate of 5.127%, what is the nominal interest rate compounded daily. 6  negative npery 7  what if "effect_rate" is not numeric. 8  what if "npery" is not numeric 
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