Examlex
The__________ was developed to allow retrieval of specific records.
Simple Interest
Interest charged exclusively on the initial borrowed amount, or on whatever portion of the principal is still outstanding.
Compounded Annually
A method of calculating interest in which the interest earned on an investment is reinvested, and new interest is earned on that interest annually.
Compounding
The financial process where an investment earns interest not only on the principal amount but also on the accumulated interest over time.
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