Some articles on apr, nominal apr:
... The term annual percentage rate (APR), also called nominal APR, and the term effective APR, also called EAR, describes the interest rate for a whole year (annualized), rather than just a monthly ... or legal jurisdictions, but in general The nominal APR is the simple-interest rate (for a year) ... The effective APR is the fee+compound interest rate (calculated across a year) ...
Famous quotes containing the word nominal:
“Discourage litigation. Persuade your neighbors to compromise whenever you can. Point out to them how the nominal winner is often a real loserin fees, expenses, and waste of time. As a peacemaker the lawyer has a superior opportunity of being a good man. There will still be business enough.”
—Abraham Lincoln (18091865)