Ask Mathcrave AI Tutor  for a clear step-by-step math solutions. Just ask for help!

## Effective Interest Rate Calculator

The effective interest rate calculator calculates the return on an investment or the rate owed in interest on a loan when compounding is applied. Interest is a payment made by a borrower to a lender or investor in return for the use of borrowed funds. Interest rates can be expressed as a percentage of the principal, as a yearly rate, or as a simple interest rate. But interest rates are only one side of the coin. When you have to repay a loan, what matters most is the effective interest rate, which is the total return on a loan as a ratio to its nominal interest rate.

#### Use Mathcrave AI Tutor below, get clear guides on how to solve problem-related on this topic.

Hi!, thanks for coming back to Mathcrave Mathcrave Equation Solver provides mathematical learning tools to help students establish a concrete understanding of problem-solving from grade school to university level for free.

## Resources

© 2023 · Mathcrave· Free Step by Step Math Solver.

### Made with ❤ by G16framework Media 