Examlex
Which of the following statements is true?
Finance Company
A business that provides loans to individuals or other businesses and generates profit from the interest on these loans.
Conditional Sale
A sales agreement that includes conditions that must be met before the sale is final and the property is transferred to the buyer.
Ordinary Annuity
A series of equal payments made at regular intervals over a specified period of time.
Nominal Interest
The interest rate stated on a loan or investment agreement before the adjustment for inflation.
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