(alsoeffective annual interest rate)FINANCEtheactualrateofinterestpaidorchargedover oneyear:Theeffectiveannualrateis theamountofinterestchargedon anoverdraft, notincludinganyfeesorcharges.(Definition ofeffective annual ratefrom theCambridge Business English Dictionary? Cambridge University Press)
Examplesofeffective annual rate
effective annual rateFor a loan with a 10% nominal annual rate and daily compounding, theeffectiveannualrateis 10.516%.FromWikipediaThis example is from Wikipedia and may be reused under a CC BY-SA license.The "effectiveannualrate" is the total accumulated interest that would be payable up to the end of one year divided by the principal.FromWikipediaThis example is from Wikipedia and may be reused under a CC BY-SA license.In retail finance, the annual percentage rate andeffectiveannualrateconcepts have been introduced to help consumers easily compare different products with different payment structures.FromWikipediaThis example is from Wikipedia and may be reused under a CC BY-SA license.We retain only one rate, the overalleffectiveannualrate.FromEuroparl Parallel Corpus - EnglishHow can the lender state what is theeffectiveannualrateof interest if there are no drawings?From theHansard archiveExample from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0We are also very concerned that no provision has been made for an exemption for agreements for cash loans where theeffectiveannualratedoes not exceed a specified level.From theHansard archiveExample from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors.#https://dictionary.cambridge.org//dictionary/english/effective-annual-rate##
