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.
If a yearly interest rate i is compounded q times per year, where q is greater than 1, this will be equivalent to a higher rate, r, of simple interest paid at the end of the year. The latter rate is called the annual percentage rate (APR). It is given by the formula. r = (1+[i/q])q-1.