The Oxford Dictionary defines the word nominal as a value that is “stated or expressed...
90.2K
Verified Solution
Link Copied!
Question
Basic Math
The Oxford Dictionary defines the word nominal as a value that is “stated or expressed but not necessarily corresponding exactly to the real value.” Develop a reasonable argument for why the term nominal rate is used to describe the annual percentage rate of an investment account that compounds interest.
Answer & Explanation
Solved by verified expert
3.9 Ratings (604 Votes)
Consider thatOxford Dictionarydefines the word nominal as a value that is stated or expressed but not necessarily corresponding exactly to
See Answer
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
