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
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