An interest rate which is quoted by brokers, banks and other financial institutions is classified as

An interest rate which is quoted by brokers, banks and other financial institutions is classified as Correct Answer nominal rate

An interest rate which is quoted by brokers, banks and other financial institutions is classified as nominal rate. Nominal interest rate refers to the interest rate before taking inflation into account. Nominal can also refer to the advertised or stated interest rate on a loan, without taking into account any fees or compounding of interest.
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