is—it’s effectively a percentage of an amount over a year. If your savings account earns you a 0.05% interest per year (which is a REALLY terrible interest rate, honestly), you earn $5 in interest for ...

Learn what the stated annual interest rate is and how to calculate it without compounding, plus how it compares to the effective annual rate.

Tennessee's interest rate ceiling is set at 10.75% by Commissioner Gonzales, adjusting with the prime rate, affecting loan costs for residents and businesses.