Denoted by i,
is the amount of money that one unit invested at the beginning of a period will earn during the period, where interest is paid at the end of the period.
i=a(1)-a(0)/a(0)=A(1)-A(0)/A(0)=I1/A(0)
in=In/A(n-1)
The effective rate of interest i is the ratio of the amount of interest earned during the period to the amount of principal invested at the beginning of the period.
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