The Legally Protected Rights and Interests That a Person Has

question 1

Multiple Choice

The legally protected rights and interests that a person has in anything of established value subject to ownership is

• A)accession.
• B)commonwealth.
• C)property.
• D)a bailee's lien.

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Definitions:

Amortized

The process of gradually reducing a debt through periodic payments of both principal and interest over a set period of time.

Compounded Semi-annually

Interest calculated twice a year on the initial principal and accumulated interest from previous periods.

Amortized

Gradually reducing a debt through regular payments of both principal and interest.

Compounded Monthly

The process of calculating interest on both the initial principal and the accumulated interest from previous periods on a monthly basis.