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J.McVicker Hunt began a training program for caregivers in an Iranian orphanage.This program trained caregivers to:
Effective Annual Rate
The real interest rate on an investment or loan, considering the effects of compounding over a year.
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.
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