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# Excel Finance Trick #7: EFFECT function (EAR Rate)

See how to use the EFFECT function to calculate the Effective Annual Rate given an APR or Nominal Rate. Also see the math formula to calculate the Effective Annual Rate from a Nominal Rate.

Nominal Rate APR Rate Annual Percentage Rate Effective Annual Rate.

In This Series learn 17 amazing Finance Tricks. Learn about the PMT, PV, FV, NPER, RATE, SLN, DB, EFFECT, NOMINAL, NPV, XNPV, and the CUMIPMT functions that can make your financing tasks much easier in Excel. See how to use the PMT function in the standard way, but also see how to use it while incorporating a Balloon payment or a delayed payment. Lean how to translate a Nominal interest rate into an Effective Interest rate. Learn how to calculate how long it takes to pay off a credit card balance. Lean how to calculate the Effect Rate on a Payday loan. See how to make an Amortization Table. See how to calculate the tax benefit of Interest. And many more financing Tricks!!

The Excel Finance Tricks 1-17 will show an assortment of Excel Financing Tricks!

Formula

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