Examlex
Which of the following frame-of-reference training steps is incorrect?
Term of Loan
The duration of time over which the borrower is obligated to repay the loan, typically expressed in months or years.
Term of Loan
The duration over which a loan agreement is in effect, encompassing the time by which the loan must be repaid.
Rate of Return
The gain or loss on an investment over a specific period, expressed as a percentage of the investment's cost.
Nominal Rate
the interest rate before adjustments for inflation, often cited in loan and savings agreements.
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