Periodic rate of interest: Difference between revisions
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imported>Doug Williamson m (Spacing 21/8/13) |
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Revision as of 13:59, 9 October 2013
The total interest for any given period - for example 0.014% per day.
The given period may be less than one year, equal to one year, or more than one year.
Another example of a periodic rate of interest would be 12.36% per two years.
Not to be confused with the effective annual rate and the nominal annual rate, which are different.
