# Equivalent Interest Rate Calculator

> Convert a nominal annual rate with one compounding frequency to an equivalent nominal rate with another frequency.

Page: https://askcalculators.com/calculator/equivalent-interest-rate-calculator/
Definition: https://askcalculators.com/calculator/equivalent-interest-rate-calculator/definition.json
JSON Schema: https://askcalculators.com/calculator/equivalent-interest-rate-calculator/schema.json
Version: 1.0.0
Maintained by: AskCalculators (software project; not a credentialed reviewer)
Qualified review: pending. Automated checks do not establish professional approval.
Page status: Live
Review status: Pending

## Use
Open the calculator page and enter values. Query-string parameters can restore and bookmark a calculation.
Example: https://askcalculators.com/calculator/equivalent-interest-rate-calculator/?nominalRate=6&sourceCompounds=12&targetCompounds=4

## Inputs
- nominalRate: Source nominal annual rate; type=percent; required; default=6; min=-99.99; max=1000
- sourceCompounds: Source compounds per year; type=number; required; default=12; min=1; max=365
- targetCompounds: Target compounds per year; type=number; required; default=4; min=1; max=365

## Outputs
- equivalentNominalRate: Equivalent target nominal rate; format=percent; primary
- effectiveAnnualRate: Effective annual rate; format=percent
- sourcePeriodicRate: Source periodic rate; format=percent
- targetPeriodicRate: Target periodic rate; format=percent

## Formula
EAR = (1 + j/m)^m − 1; equivalent j₂ = m₂[(1+EAR)^(1/m₂) − 1]

## Rules
- Empty optional inputs are undefined, not zero.
- Hidden conditional inputs are ignored.
- Do not invent missing required inputs.