package com.imsl.test.example.finance;

import com.imsl.finance.*;
import java.text.NumberFormat;

/**
 * <p>
 * Computes the nominal interest rate.</p>
 * In this example the nominal interest rate is computed given that the
 * effective rate is 6.14% and that the interest has been compounded quarterly.
 *
 *
 *
 * @see <a href="FinanceNominalEx1.java">Code</a>
 * @see <a href="doc-files/FinanceNominalEx1.out">Output</a>
 */

public class FinanceNominalEx1 {

    public static void main(String args[]) {
        double effectiveRate = .0614;
        int nper = 4;

        double nominalRate = Finance.nominal(effectiveRate, nper);
        NumberFormat nf = NumberFormat.getPercentInstance();
        nf.setMaximumFractionDigits(2);
        System.out.println("The nominal rate of the effective rate, 6.14%, "
                + "compounded quarterly is " + nf.format(nominalRate));
    }
}