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Compounded Semiannually
The process of calculating interest on both the initial principal and the accumulated interest from previous periods twice a year.
Compounded Annually
Interest calculation method where the interest earned is added to the principal at the end of each year, then the new total earns interest.
Check Register
A record of all transactions in a checking account, including checks written, deposits made, fees paid, ATM withdrawals, and so on.
Bank Statement
A statement that includes all transactions that have occurred for a period of approximately one month.
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