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Compounded Quarterly
Interest calculation method where interest is added to the principal four times a year, affecting the total interest earned or paid.
Redeemed
In financial terms, to exchange a financial instrument like a bond or coupon for its value in cash or goods; also refers to utilizing a reward or benefit.
Compounded Semi-Annually
Refers to the process of applying interest to a principal sum twice a year, leading to interest being earned on previously earned interest.
Lump Sum Payment
A single payment made at a particular time, as opposed to multiple payments made over time.
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