But if you like a challenge, here we go. Here's the effective interest rate formula: 1 + (nominal interest rate / number of compounding periods)) ^ (number of compounding periods) – 1 Wait!

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Walcott made some very important, pragmatic interventions on the topic for which this author’s commendations are offered. It is imperative, more so, that this ...

That’s because the effective interest rate also considers the effect of compounding. We’ll provide the formula later in the article. Currently, all financial institutions in Singapore are required by ...