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James and Rob, who are both men, have been married for 10 years. James and Rob:
Student Loans
Borrowed money that is used to pay for higher education expenses, which must be repaid with interest.
Compounded Monthly
A method where interest earnings are calculated and added to the principal sum each month, leading to increased interest in the next period.
Mortgage Loan
A loan secured by real property through the use of a mortgage note.
Savings Account
A financial account at a bank or similar institution that ensures the security of the original sum while yielding a slight return in interest.
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