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.
It is a finance charge expressed as an annual rate. Those terms have formal, legal definitions in some countries or legal jurisdictions, but in general: 1  The nominal APR is the simple-interest rate (for a year).  The effective APR is the fee+compound interest rate (calculated across a year).