Examlex
Tuition paid to a private school for a third-grader qualifies for the dependent care credit.
EAR
Effective Annual Rate, a comprehensive calculation of interest on a loan or investment, considering the effect of compounding.
APR
Annual Percentage Rate; the annual rate charged for borrowing or earned through an investment, accounting for compounding over the year.
Savings Account
A bank account where money is kept for savings purposes and earns interest over time.
Stated Interest Rate
The annual interest rate declared on a bond or loan, not accounting for compounding or the effect of any fees.
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