Examlex
Define the following:
1. Liabilities that are definite in amount.
2. Liabilities that must be estimated.
3. Liabilities that are contingent.
Annual Percentage Rate
A measure of the cost of credit, expressed as a yearly interest rate.
Annual Percentage Rate
The yearly interest rate charged on borrowed money, including fees and other costs associated with the loan.
Effective Annual Rate
Effective annual rate (EAR) is the actual return on an investment or real cost of a loan, considering compounding interest, expressed as an annual rate.
EAR
Effective Annual Rate, a measure of interest that accounts for compounding over a year, providing a more accurate depiction of financial product returns.
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