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Interest Rate
The fee a lender imposes on a borrower for the utilization of assets, depicted as a proportion of the principal amount.
Compounded Annually
The process of calculating interest on both the initial principal and the accumulated interest from previous periods on a yearly basis.
Interest Rate
The percentage of the principal that is paid as a fee over a certain period of time for the use of borrowed money.
Compounded Semiannually
The process of applying interest to an initial sum plus any previously earned interest, calculated twice a year.
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