Type the Excel function that converts 8 % compounded monthly to an effective annual rate.

Answer

=EFFECT(0.08,12)

nominal_rate 0.08, npery 12 → 0.0830. The inverse is =NOMINAL(0.0830,12).

Bigel, Introduction to Financial Analysis (CC BY 4.0) §10.10 — shape only (Bigel’s “APR” label is non-standard; see the warning); Excel EFFECT/NOMINAL authored fresh; original scenario