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Chapter 11: 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, 1997 to
December 31, 2004.