Definitions of "effective"
  1. When something accomplishes what it was intended for
  2. Relating to something's capability to cause a particular outcome
  3. Pertaining to something currently operational or active
  4. In terms of interest, it refers to the rate which, when applied once at the end of the interest period, gives the same total as a quoted rate of interest does when compounded over the same period
How to use "effective" in a sentence
  1. The new law became effective at the beginning of the year.
  2. The effective argument in the contract debate shifted the vote in their favor.
  3. The judge applied the effective rate of interest to calculate the settlement amount.

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