A ship is 
off course. If the ship is traveling at 18 miles per hour, how far off course will it be after 4 hours? Apply the rules regarding the use of significant digits when determining your answer. __________ mi
Definitions:
Effective Annual Rate
The yield on a loan or investment taking into account the impact of compounding throughout a year.
Compounded
In finance, referring to the process where interest is calculated on the initial principal and also on the accumulated interest from previous periods.
Stated Interest
The annual interest rate declared on a financial instrument, such as a loan or bond, not accounting for compounding or fees.
Pure Discount Loan
A loan where the borrower receives an amount less than the principal value and repays the principal amount at maturity with no additional interest.
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