Function effectiveInterestRate

  • effectiveInterestRate(r, m): number

  • Calculate the rate of interest actually earned on an investment or paid on a loan as a result of compounding the interest over a given period of time.

    Parameters

    • r: number

      The nominal rate.

    • m: number

      The number of times compounted per year. (m>0 and m=Infinity for continuous compounding)

    Returns number

    Returns the effective interest rate.

    Since

    0.3.0

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