EFFECT

Returns the annual effective interest rate given a nominal interest rate and the number of compounding periods per year.

Syntax

EFFECT(nom_rate; num)

nom_rate: Nominal interest rate. Eg., 4%

num: Number of compounding periods per year. Eg., 6

Examples

Formula	Result
=EFFECT(A2;B2)	0.040672622
=EFFECT(A3;B3)	0.168259805
=EFFECT(A4;B4)	0.072246668

Get a hands-on experience of the function in the embedded range below.

Possible Errors

Errors	Meaning
#N/A!	The function could not find the value it was asked to look for. Commonly occurs in VLOOKUP and similar functions.
#NAME!	The function name is incorrect or invalid. The given defined name (if any) is invalid. There is a typo in the defined name used in the function. Double quotes are missing for text values in the function. Colon missing in a cell range reference.
#VALUE!	The given argument's data type is incorrect or invalid. For example, the function =DATE(A1:A3) will return a #VALUE error when a text value is present in the range.
#REF!	The given cell reference is incorrect or invalid. This error may occur when a cell/range has been deleted, moved, or pasted over.
#NUM!	The value of nom_rate is less than or equal to 0. The value of num is less than 1.

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