Examlex
A product is anything that can be offered to a market to satisfy a want or need.
Interest
The cost of borrowing money or the payment received for deposit funds, usually expressed as a percentage rate over a period of time.
Present Value
Today's equivalent monetary worth of future cash sums or flows, discounted at a specific rate of return.
Ordinary Annuity
A series of equal payments made at regular intervals, with the interest compounded at a fixed rate.
Outstanding Balance
This refers to the total amount of money owed on a loan or credit line that has not yet been paid back by the borrower.
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