E2017-04-02T20:11:09+00:00

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Term
Definition
effective rate of interest compares a reducible rate to a flat rate of interest $$E=\frac{(1+r)^n-1}{n}$$ where: E = effective flat rate, r = reducible rate as a decimal, n = length of loanWhen comparing a flat rate then we use this formula to approximate the effective interest: $$r=\frac{2nR}{n+1}$$ where: r = effective rate, n = length of loan, R = flat rate of interest
exterior angle sum the exterior angle sum of any polygon is 360°
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