EFFECT function for Sheets

1 min read
I. Intro
The EFFECT function calculates the effective annual interest rate based on the nominal annual rate and the number of compounding periods per year.
II. About the function
  • Formula: =EFFECT(nominal_rate, periods_per_year)
  • Arguments:
  • nominal_rate (required): The nominal annual interest rate.
  • periods_per_year (required): The number of compounding periods per year.
  • Example: =EFFECT(3%,12)
III. Steps
Use the EFFECT function
  1. Select a cell and enter =EFFECT.
  1. Enter the arguments in the cell: For example: =EFFECT(A2,B2).
  1. Press Enter to get the result.
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Delete the EFFECT function
Select the cell with the EFFECT function and press Delete.
Written by: Feishu Help Center
Updated on 2022/10/27
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