The Effective Rate of Interest Is the Contractual Rate of Interest

question 45

True/False

The effective rate of interest is the contractual rate of interest charged by a lender or promised by a borrower.

---

Definitions:

Isotope

Variants of a chemical element that have the same number of protons but different numbers of neutrons in their atoms, affecting their atomic mass but not their chemical properties.

Electrons

Subatomic particles with a negative electric charge, found outside the nucleus of an atom.

Cobalt

A chemical element with symbol Co and atomic number 27, known for its blue-colored compounds and magnetic properties.

Fe

Symbol for Iron, a chemical element with atomic number 26, known for its strength and magnetic properties.