The nominal rate is the stated annual interest rate. However, this rate does not account for compounding throughout the loan. The effective rate accounts for the impact of compounding. In this ...
Though GDP is typically calculated on an annual basis ... in that year. Nominal GDP is evaluated in either the local currency or U.S. dollars at currency market exchange rates to compare ...
The nominal rate is the stated annual interest rate. However, this rate does not account for compounding throughout the loan.
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