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Monthly Payment
A regularly scheduled payment that is often used to repay loans over a specific period of time.
Lump Sum
A single payment made at a particular time, as opposed to several smaller payments or installments.
Interest Rate
The cost of borrowing money or the return on investment, represented as a percentage of the principal.
Annuities
Financial products that pay out a fixed stream of payments to an individual, primarily used as an income stream for retirees.
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