Define the Following Terms

question 7

Short Answer

Define the following terms
-partials

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Definitions:

Annually Deposits

Regularly scheduled payments made into an account or investment every year.

Initial Deposit

The first sum of money placed in an account to begin banking activities or to open a new account.

Compounded Annually

The calculation of interest on the initial principal, which also includes all of the accumulated interest from previous periods on a loan or deposit.

Present Value

The present value of a future amount of money or series of cash flows using a given rate of return.