# EIR: Equivalent/proportional Interest Rates In FinCal: Time Value of Money, Time Series Analysis and Computational Finance

## Description

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

## Usage

 `1` ```EIR(r, n = 1, p = 12, type = c("e", "p")) ```

## Arguments

 `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')

## Examples

 ``` 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') ```

FinCal documentation built on May 30, 2017, 4:38 a.m.