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 interest on a savings account is compounded semiannually, the effective rate of interest will be A. Higher than the nominal rate B. Lower than the nominal rate C. The same as the simple rate D. Equal to the nominal rate E. Lower than the simple rate. A.