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Explain the Chapter's Title: "A New World

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Explain the chapter's title: "A New World." What was new? Is "new" an appropriate term? Does perspective play a role in calling the Americas new? Be sure to comment on whether freedom was new in this New World.


Definitions:

Effective Rate

The actual interest rate earned or paid on an investment, loan, or other financial product, accounting for the effect of compounding.

Amortization Schedule

A table detailing each periodic payment on an amortizing loan, including the portion of the payment that goes toward principal and interest over the loan term.

Effective Rate

The actual interest rate on an investment or loan, taking into account the compounding of interest, as opposed to the nominal rate.

Monthly Rate

The interest rate or any other rate measured over the period of one month, often expressed as a percentage per month.

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