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XLeratorDB/financial Documentation

SQL Server NOMINAL function


NOMINAL
 
Updated: 5 August 2010 
Use wct.NOMINAL to calculate the annual nominal interest rate
Syntax
SELECT [westclintech].[wct].[NOMINAL] (
   <@Effect_rate, float,>
 ,<@Npery, int,>)
Arguments
@Effect_rate
the effective rate of interest. @Effect_rate is an expression of type float or of a type that can be implicitly converted to float.
@Npery
the number of compounding periods per year. @Npery is an expression of type float or of a type that can be implicitly converted to float.
Return Type
float
Remarks
·         @Npery is truncated to an integer
·         if @Effect_rate <= 0 or if @Npery <= 0 then wct.NOMINAL returns an error
·         NOMINAL is calculated using the following formula:
NOMINAL = ((1+@Effect_rate)^(1/@Npery)-1)*@Npery
Examples
 
SELECT wct.NOMINAL(0.0407415429197906
,12)
Here is the result set
----------------------
0.0400000000000009


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