The Oxford Dictionary defines the word nominal as a value that is stated or expressed but not

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The Oxford Dictionary defines the word nominal as a value that is “stated or expressed but not necessarily corresponding exactly to the real value.” Develop a reasonable argument for why the term nominal rate is used to describe the annual percentage rate of an investment account that compounds interest.

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Precalculus

ISBN: 9781938168345

1st Edition

Authors: Jay Abramson

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