The Nerst Equation is unpopular with students for 2 reasons
Which is a pity, because playing with it helps consolidate the basic ideas about what is going on in a cell at rest and when it starts to let various ions in (or out).
In its Physiology Friendly approximation it is very easy to use.
Which says that if a membrane is selectively permeable to an ion X, which is at a different concentration (square brackets) outside and inside(o and i), then at equilibrium when the tendency to equalise concentrations is balanced by the electrical consequences) a voltage will appear across the membrane (Vm, in millivolts).