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Compounded Quarterly
Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan on a quarterly basis.
Loan
A sum of money that is borrowed, usually from a financial institution or individual, which is expected to be paid back with interest.
Payments
Transactions made by individuals or entities to fulfill obligations or to purchase goods and services.
Present Value
The immediate valuation of an upcoming sum of money or series of cash transactions, based on a given rate of return.
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