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**annual interest rate definition**: The effective annual interest rate is the interest rate that is actually earned or paid on an investment, loan or other financial product due to the result of compounding over a given time period.The annual percentage yield (APY) is the interest rate that is earned at a bank or credit union from a savings account or certificate of deposit (CD). This interest rate takes compounding into ...The term annual percentage rate of charge (APR), corresponding sometimes to a nominal APR and sometimes to an effective APR (EAPR), is the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate.A rate which is charged or paid for the use of money. An interest rate is often expressed as an annual percentage of the principal. It is calculated by dividing the amount of interest by the amount of principal. Interest rates often change as a result of inflation and Federal Reserve Board policies ...Definition of effective annual interest rate: The actual annual interest rate that accrues, after taking into consideration the effects of compounding...The Effective Annual Rate (EAR) is the rate of interest actually earned on an investment or paid on a loan as a result of compounding the interest over a given period of time. It is higher than the nominal rate and used to calculate annual interest with different compounding periods - weekly, monthly, yearly, etc.Definition: The effective annual interest rate, or annual equivalent rate, earned or paid is the actual rate realized when taking into account compounding interest periods. What Does Effective Interest Rate Mean? What is the definition of effective interest rate? Based on the stated or nominal rate for a given period, such as an annual interest rate, the effective rate is ...Interest rate The monthly effective interest rate. For example, the periodic rate on a credit card with an 18% annual percentage rate is 1.5% per month. Interest Rate The percentage of the value of a balance or debt that one pays or is paid each time period. For example, if one holds a bond with a face value of $1,000 and a 3% interest rate payable each ...Although interest rates are very competitive, they aren't the same. A bank will charge higher interest rates if it thinks there's a lower chance the debt will get repaid. For that reason, banks will always assign a higher interest rate to revolving loans, like credit cards. These types of loans are more expensive to manage.The interest rate on an annual equivalent basis may be referred to variously in different markets as annual percentage rate (APR), annual equivalent rate (AER), effective interest rate, effective annual rate, annual percentage yield and other terms. The effective annual rate is the total accumulated interest that would be payable up to the end ...

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