Examlex
The General Ledger system represents the primary data base in the AIS.
Monthly Compounded
The process whereby interest is calculated on a principal sum and previously accumulated interest on a monthly basis.
Car Loan
A sum of money borrowed to purchase a car that is repaid with interest over a set period of time.
Effective Annual Rate
The interest rate on an investment or loan that is adjusted for compounding over a specified period, showing the true annual return.
Semi-Annually Compounded
A financial term where interest is added to the principal amount of an investment or loan twice a year, resulting in compound growth.
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