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FinanceBanking

interest Effective

Finance namespace
Controller: CodeCogs

Interface

C++

InterestEffective

 
doubleinterestEffectivedoublerate
intnpery )
This function computes the effective annual interest rate, based on the nominal interest rate and the number of compounding periods per year.

It is based on the following equation, where expressed as an integer.

Example 1

#include <stdio.h>
#include <codecogs/finance/banking/interesteffective.h>
 
int main()
{
  int i;
  float f = 4.25;
 
  printf("      Rate    NPery   Effective\n");
  for (i=3;i<10;++i)
  {
    printf("    %f      %d      %f\n",f,i,Finance::Banking::interestEffective(f,i));
    ++f;
  }
  return 0;
}
Output
Rate          NPery     Effective
 4.250000        3       0.043105
 5.250000        4       0.053542
 6.250000        5       0.064083
 7.250000        6       0.074726
 8.250000        7       0.085475
 9.250000        8       0.096331
 10.250000       9       0.107296

If less than or equal to 0, effect will return -1

Note

It is assumed that no withdrawls are made on the sum.

James Warren (August 2005)

Parameters

rateis the nominal interest rate, expressed as a double type.

Authors

Alwyn Tan (Mar 2005)
Source Code

Source code is available when you agree to a GP Licence or buy a Commercial Licence.

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Last Modified: 3 May 10 @ 08:27     Page Rendered: 2022-03-14 15:33:15