Business Studies, asked by ansafca5297, 5 months ago

Explain the concept of Effective Interest in brief.

Answers

Answered by Harish1129
0

Answer:

The effective annual interest rate is the real return on a savings account or any interest-paying investment when the effects of compounding over time are taken into account. ... It is also called the effective interest rate, the effective rate, or the annual equivalent rate.

Similar questions