### 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

 A 1 =NOMINAL(5/100,1) = 5.000% 2 =NOMINAL(5%,1) = 5.000% 3 =NOMINAL(5.062%,2) = 5.000% 4 =NOMINAL(5.116%,12) = 5.000% 5 =NOMINAL(5.127%,365) = 5.000% 6 =NOMINAL(15/100,-1) = #NUM! 7 =NOMINAL("some text",2) = #VALUE! 8 =NOMINAL(5%,"some text") = #VALUE!

 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 semi-annually.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 npery7 - what if "effect_rate" is not numeric.8 - what if "npery" is not numeric