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Effective Rate
The Effective Rate is another term for the Effective Annual Rate, highlighting the true return on an investment or the true interest rate on a loan, after compounding.
Unpaid Balance
The portion of a loan or debt that has not yet been repaid to the lender.
Department Store
A large retail establishment that sells a wide variety of goods in various departments within the same building.
Effective Rate
The actual interest rate an investor receives after taking into consideration compounding.
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