What Is the Difference Between an Entity Type and an Entity

question 67

Essay

What is the difference between an entity type and an entity instance?

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Definitions:

Quoted Loan Rates

The interest rates that banks or other lenders advertise as available to borrowers.

Competitive

Characterized by the existence of competition; striving to gain or win something by defeating or establishing superiority over others.

Compounded Continuously

The mathematical limit that investment interest can grow to when it is compounded infinitesimally.

Borrowing Money

The act of obtaining funds from another party, often a financial institution, under the agreement to pay back with interest.