Periodic rate of interest
From ACT Wiki
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.
See also
- Compound interest
- Daily rate
- Effective annual rate
- Nominal annual rate
- Periodic interest
- Quarterly rate
- Semi-annual rate
- Simple interest
