The nominal interest rate is the periodic interest rate times the number of periods per year; for example, a nominal annual interest rate of 12% based on monthly compounding means a 1% interest rate "per month" (compounded).
The nominal interest rate is the periodic interest rate times the number of periods per year. A nominal annual interest rate of 12% means a 1% interest rate "per month" (compounded). This was for example. This 12% is based on monthly compounding.