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General Annuity
An annuity in which the payment interval does not equal the compounding interval.
Annuity Due
An annuity in which the periodic payments occur at the beginning of each payment interval.
Compounded Monthly
Definition: The process where interest is calculated and added to the principal amount of the deposit or loan every month.
Lump Sum Deposit
A single and typically large payment made at once rather than being divided into multiple payments over time.
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