Examlex
An important calculation in calculus is the evaluation of the expression
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Interest Rate
An interest rate is the percentage of principal charged by the lender for the use of its money or the rate earned on deposits.
Annual Interest Rate
The percentage of principal earned as interest on an investment or paid on a loan over a one-year period.
Down Payment
An initial, upfront partial payment for the purchase of expensive items/services, typically associated with real estate or vehicles.
Accrued Interest
The interest that has accumulated on a bond, loan, or other financial instrument since the last interest payment was made.
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