How Do You Find The Nominal Interest Rate?
The nominal interest rate is the easiest part of the interest rate to find because it is just a number. The published interest rate and the nominal interest rate are the same thing; nothing else needs to be taken into account because it is a measure of proportion, not a measure of value. Check on a bank’s website to see its published interest rates. Wells Fargo, for example, had a 4.5 percent interest rate on 30-year fixed-rate mortgage in July 2010. Ensure that there are no fees and that this rate is not adjusted for inflation. Subtract any fees or inflation adjustments that are included.
