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Chapter 9: Financial Features
Conversion functions
11
→
Apr (
→
Apr (
effective interest rate, number of settlements
)
Converts effective interest rate to nominal interest rate
Example
If the effective interest rate
is 12.55%, how much is the
nominal interest rate for the
quarterly compound interest? If
the monthly compound interest
rate is 10.5%, how much is the
nominal interest rate?
12
→
Eff (
→
Eff (
nominal interest rate, number of settlements
)
Converts nominal interest rate to effective interest rate
Example
If the annual (nominal) interest
rate is 8%, how much is the
effective interest rate for monthly
compound interest? How much
is it over half a year?
13 days ( days (
start month.day year, end month.day year
)
days (
day month.year, day month.year
)
Calculates the number of days between dates entered (within the
range of 1950 to 2049)
Year, month, and day must
be entered in 2-digit form. For
example, enter 02 for 2002.
Calculate the number of days
from September 1, 2012 to
December 31, 2019.