EFFECT
Returns the effective annual interest rate.
Syntax
expression.EFFECT(arg1, arg2);
expression - A variable that represents a ApiWorksheetFunction class.
Parameters
| Name | Required/Optional | Data type | Default | Description |
|---|---|---|---|---|
| arg1 | Required | ApiRange | ApiName | number | The nominal interest rate. | |
| arg2 | Required | ApiRange | ApiName | number | The number of compounding periods per year. |
Returns
number
Example
Calculate the effective annual interest rate from a nominal interest rate in a spreadsheet.
// How do I find the true annual interest rate for an investment in a spreadsheet?
// Convert a nominal interest rate to its effective annual equivalent in a spreadsheet.
let worksheet = Api.GetActiveSheet();
let func = Api.WorksheetFunction;
worksheet.GetRange("A1").SetValue(func.EFFECT(0.57, 4));