Leap year and Nominal: Difference between pages

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imported>Doug Williamson
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Leap years are years which contain 366 days, compared with common years which have 365 days.  
#Named, or 'headline'. A nominal annual rate would be a market rate named, or quoted, in a particular financial market.
#A term which has <u>not</u> been restated to exclude the effects of inflation. This is the most commonly used basis for measuring and quoting financial information, also known as 'money terms'. (Contrasted with [[real]] terms.)
#Small. For example, nominal damages or compensation would be a small amount, indicating that the party awarded them was technically in the right, but that the court did not approve of the case being brought to litigation in the circumstances.


The extra day in a leap year is February 29.


 
== See also ==
Years divisible by 4 are leap years, with some exceptions.
* [[Aggregate money demand]]
 
* [[Nominal annual rate]]
All of the years divisible by 4, between 1904 and 2096 inclusive, were or will be leap years.
* [[Real]]
 
* [[Notional principal]]
 
1900 was not a leap year.
 
2100, 2200 and 2300 will not be leap years.
 
 
The rules for determining leap years are:
 
* If the year is divisible by 4, it will normally be a leap year.  For example, 2016, 2020 and 2024.
* If it is divisible by 100, it will not normally be a leap year. For example, 2100 and 2200.
* An exception to the exception are years divisible by 400. For this reason, 2000 was a leap year, and 2400 will be one too.
 
 
The reason for the rules is to approximate the true number of astronomical days in a year, which is 365.24.
 
 
==See also==
[[Effective annual rate]]

Revision as of 16:00, 21 November 2015

  1. Named, or 'headline'. A nominal annual rate would be a market rate named, or quoted, in a particular financial market.
  2. A term which has not been restated to exclude the effects of inflation. This is the most commonly used basis for measuring and quoting financial information, also known as 'money terms'. (Contrasted with real terms.)
  3. Small. For example, nominal damages or compensation would be a small amount, indicating that the party awarded them was technically in the right, but that the court did not approve of the case being brought to litigation in the circumstances.


See also

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