Examlex
What are the three major subsystems in a steering system?
Interest
The cost of borrowing money, typically expressed as an annual percentage of the loan amount.
Bank
A financial institution licensed to receive deposits, make loans, and offer various financial services, such as currency exchange and wealth management.
Compound Rate
The rate at which interest is earned on both the initial principal and the accumulated interest from previous periods.
Savings Account
An account in a bank or financial institution where the main amount is safe and earns a small amount of interest.
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