Savings and Loan Associations Are the Major Source of Construction

question 4

True/False

Savings and loan associations are the major source of construction loans and short-term loans.

---

Definitions:

Compounded Semi-annually

Interest calculated on the initial principal and the interest that has been added on a bi-annual basis.

Inflation Rate

The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.

Hourly Rate

The amount of money paid or earned for each hour of work.

Equivalent

Equal in value, amount, function, meaning, etc.