Examlex
The accounting book that provides all the information about a single account in one place is called the ledger.
Compounded Annually
Refers to the process of earning interest on both the initial principal and the accumulated interest from previous periods, calculated once per year.
Simple Interest
Interest earned or paid that is not compounded, and is based only on the principal amount.
Rate of Interest
The percentage of an amount of money which is charged for its use per period, often annually.
Future Value
The future valuation of an asset or cash that has the same worth as a particular sum at present.
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