Perjury is considered a serious offense as it can be used to usurp the power of the courts, resulting in miscarriages of justice. In the United States, for example, the general perjury statute under Federal law classifies perjury as a felony and provides for a prison sentence of up to five years.
Effective interest rate for t periods, i t = (1 + i) t - 1 or as one equation i t = (1 + (r / m)) mt - 1. The rate per compounding period P = R / m, in percent.
Simple interest expense formula (which excludes compounding): Interest Expense = Principal X Rate X Time. Compound interest rate formula: Principal X (1+ (R / N))(N X T) Where: R = Interest rate N = Number of times interest is compounded in a year T = Time in years.