NOMINAL ANNUAL RATE
\nˈɒmɪnə͡l ˈanjuːə͡l ɹˈe͡ɪt], \nˈɒmɪnəl ˈanjuːəl ɹˈeɪt], \n_ˈɒ_m_ɪ_n_əl ˈa_n_j_uː_əl ɹ_ˈeɪ_t]\
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An investment or debt instrument's stated annual interest rate. Does not include a compounding component and is not adjusted even if the return is paid monthly, semiannually or annually. Also known as effective annual interest rate.
By Henry Campbell Black
Word of the day
basidiomycota
- comprises fungi bearing the spores on basidium: Gasteromycetes (puffballs); Tiliomycetes (comprising orders Ustilaginales (smuts) and Uredinales (rusts)); Hymenomycetes (mushrooms; toadstools; agarics; bracket fungi); in some classification systems considered a division of kingdom comprises fungi bearing spores on a basidium; includes Gasteromycetes (puffballs) Tiliomycetes comprising the orders Ustilaginales (smuts) and Uredinales (rusts) Hymenomycetes (mushrooms, toadstools, agarics bracket fungi).