Examlex
The level of satisfaction ("Very unsatisfied","Fairly unsatisfied","Fairly satisfied",and "Very satisfied")in a class is an example of a categorical variable.
Effective Rate
The real rate of interest earned or paid on an investment or loan in a specified period, considering compounding.
Monthly Compounded
Refers to the process of adding interest to the principal sum of a loan or deposit, recalculated on a monthly basis. This is a repeat of Compounded Monthly with a new definition focusing on recalculating interest increase.
Compounded Monthly
Compounded monthly refers to the process where the interest earned on an investment is added to the principal sum each month, causing the principal amount to grow at an increasing rate.
Effective Rate
The actual interest rate an individual pays or earns on a loan or investment, taking into account the effects of compounding.
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