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3.5.13.1 Effect
Contents
Description
Minimum Origin Version Required: 2019 SR0
This function is used to calculate the effective annual interest rate, given the nominal interest rate nrate and the number of compounding periods per year npery.
- \[ Effect = {\left( {1 + \frac{{nrate}}{{nprey}}} \right)^{nprey}} - 1\ \]
Syntax
double Effect( double nrate, int npery )
Parameters
nrate
- The nominal interest rate. nrate > 0
nprey
- The number of compounding periods per year. npery >= 1
Example
aa=0.05; bb=4; effect(aa, bb) = ; // returns 0.050945