Examlex
Explain the octane method of rating gasoline.
Nearest 0.01%
Adjusting a value so that it is close to an exact hundredth of a percent, enhancing precision.
Nearest 0.01%
An accuracy level in calculations where the result is rounded to the closest one-hundredth of a percent.
Equivalent Interest Rate
A rate that equates two or more interest arrangements by taking into account compounding periods and other terms.
Equivalent Interest Rate
An equivalent interest rate is the interest rate that equates to the compound interest over a different payment frequency, ensuring comparability among rates with different compounding periods.
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