A nominal interest rate is defined as "the opportunity cost of holding or using money." explain what you understand ts definition to mean.
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The nominal interest rate means to interest rate before taking to the inflation to your account.
The term “nominal” refers to the given interest rate on the loan amount or the interest rate which is advertised without taking any fees from your account or compounding the interest.
The interest rates which are fixed by the Federal Reserve are also known as the nominal interest rate.
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