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FinanceBanking

interest Effective

Finance namespace
Controller: CodeCogs

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Interface

C++
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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
  • rate is the nominal interest rate, and
  • npery is the number of compounding periods per year,
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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