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Effective Annual Rate
The effective annual rate is the real return on an investment, taking into account the effect of compounding interest over a year.
Annual Rate
The interest rate charged per year on a loan, or earned on an investment, not accounting for the effect of compounding within that year.
Actual Rate
The real interest rate or return rate earned on an investment, as opposed to the nominal or advertised rate.
Interest
The cost of borrowing money or the return on investment capital, usually expressed as a yearly percentage.
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