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Compounded Monthly
The process of calculating interest on both the initial principal and the accumulated interest from previous periods, done once per month.
Principal Repaid
The amount of the original loan paid back, excluding interest or additional fees.
17th Monthly Payment
Refers to the seventeenth installment in a series of scheduled payments, typically within a loan or mortgage plan.
Compounded Monthly
This refers to the process of adding interest to the principal balance of a loan or investment on a monthly basis.
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