stated annual interest rate

Definition

The annual interest rate that accrues, without considering the effect of compounding. If a bank states an annual rate of 7% interest, that is the stated annual interest rate.

Use this term in a sentence

You should try to shop around to make sure you get the best stated annual interest rate that you can.

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She was thinking about comparing banks to open an account, but she was more than satisfied with the stated annual interest rate that her account would earn at the first bank she visited, and chose them.

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When Beth was deciding which bank to use for her savings, she had to take a careful look at the stated annual interest rate of each to ensure she was getting the best deal for her money.

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state-controlled effective annual interest rate