Examlex
A guaranty requires consideration to be enforceable.
Daily Payments
Payments made on a daily basis, often used in the context of loans or labor wages.
Loan
Money that is borrowed and should be returned with added interest.
Compounded Continuously
The process whereby interest is calculated on an initial principal and subsequently on the accumulated interest of previous periods, assuming the compounding occurs infinitely within a given time.
Effective Annual Rate
The actual interest rate an investment, loan, or savings account will yield after accounting for compounding.
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