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**APR**(//rate,periods//)

| **APR** | Returns the effective annual interest rate. |
| //rate// | A numeric constant or variable containing the //contracted //interest rate. |
| //periods// | A numeric constant or variable containing the number of compounding periods per year. |

The **APR **function determines the effective annual rate of interest based upon the contracted interest rate (//rate//) and the number of compounding periods (//periods//) per year. For example, periods = 2 results in semi-annual compounding. The contracted interest rate is a "non-compounded annual interest rate."

**Return DataType:**     DECIMAL

**Internal Formulas:**

{{apr.jpg|APR.jpg}}

**Example:**

**PeriodicRate = AnnualInterestRate / (PeriodsPerYear * 100) ! Setup Variables**

**RealRate = InterestRate / 100**

**AnnualRate = APR(RealRate,PeriodsPerYear) ! Call APR**

**AnnualRate *= 100                         ! Normalize Results**