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Crediting Interest to the Contract Nationwide interest rates are all declared as annual effective yields. An effective yield takes into account the effect of interest compounding. Nationwide credits interest to the Contract on each Business Day. Annual effective yields are converted by Nationwide into a daily interest rate factor. The current Contract Value is calculated by taking the daily interest rate factor and multiplying it by the previous Business Day's Contract Value. Because interest is credited only on Business Days, interest from multiple non -Business Days (e.g., days falling on a weekend or holidays) accumulate and are credited on the next available Business Day. Calculating the Contract Value The Contract Value on any given Business Day is equal to: 1. total Purchase Payments allocated to the Contract; plus 2. the daily interest earned; plus 3. Exchanges or Transfers to the Contract; minus 4. Exchanges or Transfers out of the Contract; minus 5. Withdrawals from the Contract; minus 6. Participant Benefit Payments; minus 7. any applicable Contract Maintenance Charge, the aggregate Participant Account Charge, charges associated with plan expenses or additional services, and premium taxes that are applied to Participant Accounts. Calculating a Participant Account Value under the Contract A Participant Account Value on any given Business Day is equal to: 1. total Participant Contributions allocated to the Contract; plus 2. the daily interest earned on the Participant's Account; plus 3. Exchange or Transfers to the Contract; minus 4. Exchange or Transfers out of the Contract; minus 5. Withdrawals from the Contract; minus 6. Participant Benefit Payments; minus 7. any applicable Contract Maintenance Charge, the aggregate Participant Account Charge, charges associated with plan expenses or additional services, additional expense charges, and premium taxes that are applied to Participant Accounts. PURCHASE PAYMENTS Acceptance of Purchase Payments Purchase Payments, representing Participant Contributions or other Plan contributions on behalf of Participants to Participant Accounts, are accepted by Nationwide at the address listed on the Contract Specifications Page. Nationwide will only accept Purchase Payments denominated in the currency of the United States of America. Nationwide may accept Purchase Payments in another manner, such as securities in-kind subject to the following: 1. The Contract Owner provides advance notice to Nationwide and any specific information requested by Nationwide regarding the nature of the Purchase Payment; and 2. Nationwide provides its written consent to accept the Purchase Payment. NRC-0110FL 7 (Florida) (4/2011)