Crystal Reports for Eclipse Designer Guide

Nominal (rate, nCompoundingPeriods)

Description
Nominal returns the nominal annual interest rate given the effective interest rate and the number of compounding periods.
Arguments
  • rate is a number that specifies the annual interest rate.
  • nCompoundingPeriods is a positive number that specifies the number of compounding periods per year.
  • Returns
    Number value
    Action
    Nominal returns the nominal annual interest rate given the effective interest rate and the number of compounding periods.
    Examples
    Suppose a new savings account is advertised with a compounding interest rate (or effective interest rate) of 4.02% on semiannual interest payments, which you want to compare with your existing account.
    Nominal (0.0402, 2)
    Returns 0.0398 (rounded to four decimal places) which corresponds to an annual interest rate of 3.98%.
    Comments
    This function is designed to work like the Excel function of the same name.



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