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Which of the following was NOT an intended characteristic of the cottage system?
Financial Obligation
A financial commitment, duty, or liability that an individual or entity is legally bound to fulfill, such as loans or debts.
Compounded Semi-annually
The process where interest is calculated twice a year and added to the principal, allowing future interest calculations to be based on the new principal amount.
Lump Sum Payment
A single payment made at a particular time, as opposed to a series of smaller payments or installments.
Economic Difference
Refers to the variation in economic performance, wealth, or resource distribution between different regions, sectors, or individuals.
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