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If the accord is not satisfied, the other party can sue to enforce the accord.
Ordinary annuity
A regular annuity involves uniform payments disbursed at the end of each period within a set timeframe.
Compounded annually
This term describes the process of calculating interest on both the initial principal and the accumulated interest from previous periods, done once every year.
Rate of inflation
The percentage increase in the general price level of goods and services in an economy over a period of time.
Purchasing power
The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.
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