| 单词 |
effective annual interest rate |
| 释义 |
Effective annual interest rate
Effective annual interest rateAn annual measure of the time value of money that fully reflects the effects of compounding.Effective Interest RateThe interest rate on a debt or debt security that takes into account the effects of compounding. For example, if one has a fixed-income investment such as certificate of deposit that pays 3% in interest each month, the effective interest rate is more than 3% because compounding the interest results in a (slightly) greater principal each month on which the interest rate is calculated. In this example, the effective interest rate is calculated thus:
Effective interest rate = (1 + .03/12)^12 - 1 = .0304 = 3.04%, where .03 is the simple interest rate and 12 is the number of times in a year interest is compounded. It is also known as the annual effective rate or the annual equivalent rate. See also: Stated annual interest rate, annual percentage yield.See EAIR
See EAIR |
| 随便看 |
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