Changes

=EFFECT(nomrate, npy)=

<div style="font-size:30px">'''EFFECT (NominalInterestRate,CompoundingPeriodsPerYear)'''</div><br/>

where,

where,

*<math>nomrate</math> is the nominal interest rate, and

*<math>NominalInterestRate</math> is the nominal interest rate, and

*<math>npy</math> is the number of compounding periods per year.

*<math>CompoundingPeriodsPerYear</math> is the number of compounding periods per year.

EFFECT() calculates the effective annual interest rate.

EFFECT(), returns the effective annual interest rate.

== Description ==

== Description ==

EFFECT(nomrate, npy)

EFFECT (NominalInterestRate,CompoundingPeriodsPerYear)

*Arguments <math>nomrate</math> and <math>npy</math> should be positive numeric values.

*Arguments <math>NominalInterestRate</math> and <math>npy</math> should be positive numeric values.

*<math>nomrate</math> should be &gt;0 and <math>npy</math> should be &gt;1.

*<math>NominalInterestRate,</math> should be &gt;0 and <math>CompoundingPeriodsPerYear</math> should be &gt;1.

*For invalid arguments, Calci returns an error message.

*For invalid arguments, Calci returns an error message.

*Formula: Effective interest rate <math>r</math> is calculated as follows -

*Formula: Effective interest rate <math>r</math> is calculated as follows -