Apr Compounded Monthly

Some articles on apr compounded monthly, apr:

Annual Percentage Rate - Failings - Nominal APR Does Not Reflect The True Cost
... credit cards are quoted in terms of nominal APR compounded monthly, which is not the same as the effective annual rate (EAR) ... Despite the “Annual” in APR, it is not necessarily a direct reference for the interest rate paid on a stable balance over one year ... The general conversion factor for APR to EAR is, where n represents the number of compounding periods of the APR per EAR period ...

Famous quotes containing the words monthly and/or compounded:

    Romeo. Lady, by yonder blessed moon I vow,
    That tips with silver all these fruit tree tops—
    Juliet. O, swear not by the moon, th’ inconstant moon,
    That monthly changes in her circled orb,
    Lest that thy love prove likewise variable.
    William Shakespeare (1564–1616)

    The greatest blunders, like the thickest ropes, are often compounded of a multitude of strands. Take the rope apart, separate it into the small threads that compose it, and you can break them one by one. You think, “That is all there was!” But twist them all together and you have something tremendous.
    Victor Hugo (1802–1885)