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Simple Interest
Interest calculated on the principal amount of a loan or deposit, not including any previously earned interest.
Financial Position
Represents the net worth of an entity, detailing assets, liabilities, and shareholders' equity at a specific point in time.
Assignable Loan Contract
A loan agreement that allows the lender to transfer or assign the loan to another party.
Finance Company
A financial institution that offers loans, leases, and other financial services to consumers and businesses.
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