Solution 11242: Converting Nominal Interest to an Annual Percentage Rate
(APR) Using the BA II PLUS™or the BA II PLUS™ PROFESSIONAL.
How do I convert a nominal interest rate to an annual percentage rate (APR)
using the BA II PLUS or the BA II PLUS PROFESSIONAL?
A nominal interest rate can be converted to an annual percentage rate (APR)
using the Interest Conversion Worksheet on the BA II PLUS or the BA II PLUS PROFESSIONAL.
Example: Convert a 9.75% nominal rate (compounded daily) to an annual
effective rate.
For more information please see the BAII Plus or BAII Plus Professional guidebook.
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