+118608 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%
$$\left({{\mathtt{1.01}}}^{{\mathtt{12}}}\right){\mathtt{\,-\,}}{\mathtt{1}} = {\mathtt{0.126\: \!825\: \!030\: \!131\: \!969\: \!7}}$$
+118608 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%
$$\left({{\mathtt{1.01}}}^{{\mathtt{12}}}\right){\mathtt{\,-\,}}{\mathtt{1}} = {\mathtt{0.126\: \!825\: \!030\: \!131\: \!969\: \!7}}$$
