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Compounded Monthly
This refers to the method by which interest earnings are calculated on a monthly basis, with each month's interest being added to the principal for the calculation of the next month's interest.
Loan Rate
The interest rate applied to the amount of money borrowed from a lender, typically expressed as an annual percentage rate (APR).
Monthly Payment
The amount that is due every month to repay a loan, typically consisting of both principal and interest components, over a set period.
Mortgage Rate
The interest rate charged on a mortgage loan, determining the cost of borrowing for purchasing real estate.
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