Calculate compound interest rate conversion for different time periods. Convert annual interest rate to specified time unit.

Compound Interest Rate Conversion

Purpose

The Compound Interest Rate Conversion function is used to convert an annual interest rate into a periodic interest rate. This is helpful when calculating compound interest over different time periods.

Use Cases

• Calculating monthly interest rate from an annual interest rate
• Converting quarterly interest rate from an annual interest rate

How to Use

1. Enter the annual interest rate in percentage.
2. Select the time period for the periodic interest rate (e.g., month, quarter).
3. Click on the 'Calculate' button to get the converted periodic interest rate.

Input Values

1. Annual Interest Rate - Enter the annual interest rate in percentage.
2. Default unit is percent (%).
3. Period - Select the time period for the periodic interest rate.
4. Default unit is month.

Output Values

1. Periodic Interest Rate - The converted periodic interest rate.
2. Unit of measurement is percentage (%).

Any other Instruction

• Make sure to enter the annual interest rate accurately in percentage.
• Double-check the selected time period before calculating the periodic interest rate.

Code Analysis

1. Convert the annual interest rate to a decimal value.
2. Calculate the number of periods based on the time period selected.
3. Calculate the periodic interest rate using the formula.
4. Return the calculated periodic interest rate in percentage format.

Technical Parameters

• interest_rate, interest_rate_for

Return Values

• pir

Example Expressions

You can use the following expressions to directly evaluate in a non-interactive manner using eval():

circ(12, 'mo')
circ(8.5, 'yr')

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