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Justin works in an executive department of the federal government. He notices that some of his fellow bureaucrats are engaged in bribery. He reports to the law enforcement officials about the ongoing corruption in his department. This scenario illustrates that Justin is a _____.
Revolving Line of Credit
A credit facility extended by a financial institution to a customer that allows the customer to borrow up to a certain limit, pay down the balance, and then borrow again.
Simple Interest
Interest calculation method that involves multiplying the principal amount by the interest rate and the term of the loan or investment, without compounding.
Annual Rate
The interest rate for a loan or investment over a one-year period, often used to compare the yield of financial products.
Student Loans
Loans taken by students to cover higher education expenses, expected to be repaid with interest.
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