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The figure represents a multiple- flash photo of two balls moving to the right, and shows both balls at several numbered times. In the figure,
Savings
Money set aside for future use rather than spending immediately.
Lump Sum
A single payment made at a particular time, as opposed to several smaller payments.
Compounded Semi-annually
Interest on an investment or loan is calculated and added to the principal sum twice a year.
Financial Functions
Mathematical expressions that are used to calculate interest, future values, present values, payments, and other financial metrics.
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