Answer:
how fast the number of dollars in your bank account rises over time.
Explanation:
A bank's nominal interest rate refers to the amount of money your bank account earns relative to your total account.
For example, if you have $10,000 in your account and the nominal interest rate is 3% annual, then you will earn $300 (= $10,000 x 3%).
The higher the interest rate, the more your bank account will increase over time.
