Convert stated annual rate to the effective annual rate with...

An interest rate to be applied n times p.a. can be converted to an equivalent rate to be applied p times p.a.

1 |

`r` |
interest rate to be applied n times per year (r is annual rate!) |

`n` |
times that the interest rate r were compounded per year |

`p` |
times that the equivalent rate were compounded per year |

`type` |
equivalent interest rates ('e',default) or proportional interest rates ('p') |

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 | ```
# monthly interest rat equivalent to 5% compounded per year
EIR(r=0.05,n=1,p=12)
# monthly interest rat equivalent to 5% compounded per half year
EIR(r=0.05,n=2,p=12)
# monthly interest rat equivalent to 5% compounded per quarter
EIR(r=0.05,n=4,p=12)
# annual interest rate equivalent to 5% compounded per month
EIR(r=0.05,n=12,p=1)
# this is equivalent to
ear(r=0.05,m=12)
# quarter interest rate equivalent to 5% compounded per year
EIR(r=0.05,n=1,p=4)
# quarter interest rate equivalent to 5% compounded per month
EIR(r=0.05,n=12,p=4)
# monthly proportional interest rate which is equivalent to a simple annual interest
EIR(r=0.05,p=12,type='p')
``` |

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