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Nonparametric methods are more sensitive than their parametric counterparts even when
the assumptions of the parametric methods are met.
Interest
A fee levied for the use of borrowed money, frequently expressed in terms of an annual percentage rate.
Annuity Due
An annuity in which the payments are made at the beginning of each period, as opposed to at the end.
Present Value
The value today of a future payment or series of payments, discounted at a specified interest rate.
Normal Annuity
An annuity where payments are made at the end of each period.
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