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.
Rate of interest R = I / PT, where I is the interest, P is the principal amount, T is the interest period, and R is the rate of interest. Rate of interest can be annual, half yearly, or quarterly according to the deal made. Jerald borrowed $4,000 from a bank for a period of 4 years at 4% rate of interest per annum.