Examlex
Please define the following key terms. Show Who? What? Where? When? Why Important?
-Carthage
Nearest 0.01%
Rounding or approximating a numerical value to the closest hundredth of a percent.
Equivalent Interest
The equal effectiveness of different interest rates with respect to compounding periods over a specified period.
Nearest 0.01%
Rounding or approximating a numerical value to the closest one-hundredth of a percent.
Interest Rate
The percentage charged on a loan or paid on an investment for the use of money, calculated on an annual basis.
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