Calculate Nominal Interest Rate for a loan

Calculates the nominal interest rate for a loan based on provided parameters.

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Nominal interest rate calculation parameters

string
required

The external product id of the loan product. This is used to identify the product in the system.

integer
required

The loan principal amount in cents

integer
required

Number of periods in loan term

integer
required

The total amount to be repaid over the life of the loan in cents

string
enum
Defaults to monthly

The interval at which payments are made (e.g., monthly, biweekly, weekly, daily, annually)

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