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Jetline Airways regularly emails its customers with quarterly statements of their earned frequent flier miles. Now, to save money, the company is going to stop mailing statements and ask customers to look up the information on the airline's website. Which of the following illustrates the most effective way to recast the situation as a positive message?
Compounded Semiannually
Interest that is calculated and added to the principal balance twice a year.
Equivalent Rate
The interest rate that would produce the same compounded financial result over a specific period as a differently compounded interest rate.
Compound Annual Rate
The rate at which a sum of money would grow if it were compounded once per year.
Mining Town
A community developed to house miners and is located near mining operations.
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