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The effective interest rate ( EIR ), effective annual interest rate, annual equivalent rate ( AER) or simply effective rate is the percentage of interest on a loan or financial product if compound interest accumulates in periods different than a year. [1] It is the compound interest payable annually in arrears, based on the nominal interest rate.
In finance, a day count convention determines how interest accrues over time for a variety of investments, including bonds, notes, loans, mortgages, medium-term notes, swaps, and forward rate agreements (FRAs). This determines the number of days between two coupon payments, thus calculating the amount transferred on payment dates and also the ...
Cancellation (insurance) Cancellation of an insurance policy before the end of the policy period has the effect of ending the insurance coverage on the date of the cancellation. This can result in a partial return premium which can be calculated in different ways depending on the method specified in the policy.
Absolute dating is the process of determining an age on a specified chronology in archaeology and geology. Some scientists prefer the terms chronometric or calendar dating, as use of the word "absolute" implies an unwarranted certainty of accuracy. [1] [2] Absolute dating provides a numerical age or range, in contrast with relative dating ...
The calculation of radiocarbon dates determines the age of an object containing organic material by using the properties of radiocarbon (also known as carbon-14 ), a radioactive isotope of carbon. Radiocarbon dating methods produce data based on the ratios of different carbon isotopes in a sample that must then be further manipulated in order ...
An amortization schedule is a table detailing each periodic payment on an amortizing loan (typically a mortgage ), as generated by an amortization calculator. [1] Amortization refers to the process of paying off a debt (often from a loan or mortgage) over time through regular payments. [2] A portion of each payment is for interest while the ...
The force of interest is less than the annual effective interest rate, but more than the annual effective discount rate. It is the reciprocal of the e -folding time. A way of modeling the force of inflation is with Stoodley's formula: δ t = p + s 1 + r s e s t {\displaystyle \delta _{t}=p+{s \over {1+rse^{st}}}} where p , r and s are estimated.
Effective dose is a dose quantity in the International Commission on Radiological Protection (ICRP) system of radiological protection. [1]It is the tissue-weighted sum of the equivalent doses in all specified tissues and organs of the human body and represents the stochastic health risk to the whole body, which is the probability of cancer induction and genetic effects, of low levels of ...