Examlex
Payments
The act of transferring money or value from one party to another in exchange for goods, services, or to fulfill a legal obligation.
Years
Units of time measuring 365 days (or 366 in a leap year), often used to track age, duration, or periods of investment.
Effective Annual Rate
The interest rate on a loan or financial product restated on an annual basis, accounting for compounding over the term.
Compounded Continuously
The process of calculating interest on an investment or loan where the interest is reinvested and earns additional interest constantly over time.
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