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Suppose $500 is deposited in an account that earns 6% per year compounded semiannually. The interest rate of 6% is known as the nominal interest

Suppose $500 is deposited in an account that earns 6% per year compounded semiannually. The interest rate of 6% is known as the nominal interest rate The actual increase in the amount of money in the account is measured by the effective interest rate
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Suppose $500 is deposited in an account that earns 6% per year compounded semiannually. The interest rate of 6% is known as the The actual increase in the amount of money in the account is measure'd by the

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