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Interest Paid
Interest paid refers to the amount of money a borrower pays to a lender for the use of borrowed funds over a period of time, typically expressed as a rate of the principal.
Equal Installments
Equal installments refer to payments of the same amount made periodically over the term of a loan or financing agreement.
Interest
The charge for borrowing money or the return on invested capital.
Nominal Annual Rate
The stated or face interest rate of a financial product, not adjusting for compounding or inflation over time.
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