Examlex
All of the following are considered ERP modules except
Down Payment
An initial upfront portion of the total amount due, often associated with the purchase of expensive goods like homes or cars, which is paid at the time of the sale.
Term Deposit
A deposit at a financial institution that has a fixed term and typically offers a higher interest rate than a regular savings account.
Simple Interest
A method of calculating interest where the charge is based on the original principal amount alone, without compounding.
Interest
Interest is the cost of borrowing money, typically expressed as a percentage of the principal amount.
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