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Nominal Interest Rate
The stated or face interest rate of a loan or financial product, not adjusted for inflation.
Purchasing Power
The ability of an individual or group to buy goods and services with a given amount of money.
Bank Account
A financial account maintained by a financial institution for a customer, allowing the customer to deposit and withdraw money, and in many cases, earn interest.
Nominal Interest Rates
The interest rates unadjusted for inflation, reflecting the rate of time-preference for current goods over future goods in monetary terms.
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