Examlex
You purchased a copy of Microsoft Office and give a copy to a friend so he/she doesn't have to buy it too. This is _________ and is _________.
Annual Interest Rate
The percentage of principal charged by lenders or paid to investors per annum.
Compounded Continuously
A calculation involving the natural exponential function for the interest that is added to an amount of money based on an infinitely small rate over a period of time.
Principal
In finance, the original sum of money borrowed in a loan, or put into an investment. In mathematics, it can refer to the principal amount, or initial size of a quantity before interest or growth.
Nearest Cent
Rounding a monetary amount to the closest cent, typically as part of currency calculations to ensure practical transactions.
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