Examlex
When each person specializes in producing the good for which he or she has a comparative advantage, each person can gain from trade but total production in the economy is unchanged.
Compounds Monthly
Refers to the process of applying interest to an amount where the interest earned itself earns interest, recalculated on a monthly basis.
Effective Annual Rate
A measure of the annual return on an investment, taking into account the effect of compounding interest.
Bonuses
Additional compensation given to employees as a reward for good performance, usually based on individual or company achievements.
Ordinary Annuities
A series of equal payments made at equal intervals, such as monthly or annually.
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