Examlex
The heaviest users of consumer debt are college students.
Principal
Principal refers to the original sum of money borrowed in a loan or invested, exclusive of any interest or dividends.
Annual Payments
Periodic payments made once every year, often used in terms of loans, insurance, and investments.
Outstanding Balance
The amount of money owed on a loan or credit line that has not yet been repaid.
Single Premium Annuity
A financial product where a lump sum payment is made initially in exchange for a series of payments that will be received at future dates.
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