# The Excel function: EFFECT

Returns the effective annual interest rate.

More information: support.microsoft.com/en-us/office/effect-function-910d4e4c-79e2-4009-95e6-507e04f11bc4

Other functions

Returns the accrued interest for a security that pays periodic interest

Returns the accrued interest for a security that pays interest at maturity

Returns the depreciation for each accounting period by using a depreciation coefficient

Returns the depreciation for each accounting period

Returns the number of days from the beginning of the coupon period to the settlement date

Returns the number of days in the coupon period that contains the settlement date

Returns the number of days from the settlement date to the next coupon date

Returns the next coupon date after the settlement date

Returns the number of coupons payable between the settlement date and maturity date

Returns the previous coupon date before the settlement date

Returns the cumulative interest paid between two periods

Returns the cumulative principal paid on a loan between two periods

Returns the depreciation of an asset for a specified period by using the fixed-declining balance method

Returns the depreciation of an asset for a specified period by using the double-declining balance method or some other method that you specify

Returns the discount rate for a security

Converts a dollar price, expressed as a fraction, into a dollar price, expressed as a decimal number

Converts a dollar price, expressed as a decimal number, into a dollar price, expressed as a fraction

Returns the annual duration of a security with periodic interest payments

Returns the future value of an investment

Returns the future value of an initial principal after applying a series of compound interest rates

Returns the interest rate for a fully invested security

Returns the interest payment for an investment for a given period

Returns the internal rate of return for a series of cash flows

Calculates the interest paid during a specific period of an investment

Returns the Macauley modified duration for a security with an assumed par value of $100

Returns the internal rate of return where positive and negative cash flows are financed at different rates

Returns the annual nominal interest rate

Returns the number of periods for an investment

Returns the net present value of an investment based on a series of periodic cash flows and a discount rate

Returns the price per $100 face value of a security with an odd first period

Returns the yield of a security with an odd first period

Returns the price per $100 face value of a security with an odd last period

Returns the yield of a security with an odd last period

Returns the number of periods required by an investment to reach a specified value

Returns the periodic payment for an annuity

Returns the payment on the principal for an investment for a given period

Returns the price per $100 face value of a security that pays periodic interest

Returns the price per $100 face value of a discounted security

Returns the price per $100 face value of a security that pays interest at maturity

Returns the present value of an investment

Returns the interest rate per period of an annuity

Returns the amount received at maturity for a fully invested security

Returns an equivalent interest rate for the growth of an investment

Returns the straight-line depreciation of an asset for one period

Returns the sum-of-years' digits depreciation of an asset for a specified period

Returns the bond-equivalent yield for a Treasury bill

Returns the price per $100 face value for a Treasury bill

Returns the yield for a Treasury bill

Returns the depreciation of an asset for a specified or partial period by using a declining balance method

Returns the internal rate of return for a schedule of cash flows that is not necessarily periodic

Returns the net present value for a schedule of cash flows that is not necessarily periodic

Returns the yield on a security that pays periodic interest

Returns the annual yield for a discounted security; for example, a Treasury bill

Returns the annual yield of a security that pays interest at maturity