Examlex
Which of the following statements is INCORRECT?
Compounded Monthly
Refers to interest on a loan or investment calculated monthly, adding to the principal sum so that each successive calculation includes the previous month's interest.
Semiannually Compounded
Interest on an investment or loan calculated twice a year.
Compounded Annually
Interest calculation method where interest is calculated on the initial principal as well as the interest accumulated over previous periods, applied once per year.
Annual Sales
The total revenue generated from sales activities over the course of one year.
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