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LSDefine

Simple English definitions for legal terms

nominal rate

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A quick definition of nominal rate:

Nominal rate: This is another term for interest rate. It refers to the percentage of money that a lender charges a borrower for borrowing money. For example, if you borrow $100 and the nominal interest rate is 5%, you will have to pay back $105. It is important to note that the nominal rate does not take into account inflation or other factors that may affect the real cost of borrowing.

A more thorough explanation:

Definition: The nominal rate is another term for the interest rate. It is the rate at which interest is charged on a loan or investment, without taking into account any other factors such as inflation or compounding.

Example: If you take out a loan with a nominal rate of 5%, you will be charged 5% interest on the amount you borrow. However, if inflation is 2%, the real interest rate (the rate adjusted for inflation) is only 3%. This means that the actual cost of borrowing is lower than the nominal rate suggests.

Explanation: The example illustrates how the nominal rate is the rate at which interest is charged on a loan or investment, without taking into account any other factors. In this case, inflation is a factor that affects the real cost of borrowing, but it is not included in the nominal rate. The example shows that the nominal rate can be misleading if it does not take into account other factors that affect the cost of borrowing or the return on investment.

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22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
9:42
My name is renard99 and I just sent @babycat feet pics
glovediedthisishismom
9:42
nobody is at the office today they should let little glovey go home and watch harry potter
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