Examlex
Tessa has planned a five- day trip to Miami with her husband. Before leaving, one of Tessa's partners asks her to take a morning meeting with a client while she is there. Tessa can now deduct the cost of the airfare for the trip.
Equal Installments
Periodic payments of the same amount over the term of a loan or investment.
Borrowed
Borrowed refers to funds that have been taken on loan from external sources, which are expected to be paid back with interest over time.
Daily Compounding
The process where the interest on an investment is calculated daily and added to the principal, so that each subsequent calculation of interest includes interest previously earned.
Bank Account
A financial account maintained by a banking institution in which the financial transactions between a customer and the bank are recorded.
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