Melody

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Melody  Feb 11, 2022
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nominal is a normal English word.

https://www.google.com.au/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=nominal%20definition

 

It is used in mathematics but the exact meaning would depend on context

1)   If you get nominal change for a purchase it means you get very little change.

2)   If you nominal interest rate is 12% compounded monthly it means that this is not the real interest rate, it is just close enough for most purposes.

The real annual interest rate would be  approx 12.68%

$$\left({{\mathtt{1.01}}}^{{\mathtt{12}}}\right){\mathtt{\,-\,}}{\mathtt{1}} = {\mathtt{0.126\: \!825\: \!030\: \!131\: \!969\: \!7}}$$

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Jun 21, 2015