The Term "Byte" Stands for Binary Digit

question 90

True/False

The term "byte" stands for binary digit.

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Definitions:

Borrower

An individual, company, or institution that receives funds from a lender under the condition of paying back the borrowed amount plus interest.

Compounded Monthly

Interest calculated monthly on the principal sum plus previously earned interest.

Equal Payments

Regularly scheduled payments of the same amount, common in loans and amortization plans.

Compounded Annually

Interest that is calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan, done once a year.