A Literal Constant Is an Item of Data Whose Value

question 13

True/False

A literal constant is an item of data whose value does not change while the application is running.

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Definitions:

Face Value

The original value of a financial instrument as stated on the instrument itself, without accounting for interest or market value fluctuations.

Simple Interest

Interest calculated only on the principal amount, or on that portion of the principal amount which remains unpaid.

Compounded Monthly

An approach to interest calculation conducted every month, including both the initially loaned or deposited sum and the cumulatively gained interest from former periods.

Compound Increase

The growth of an amount where the increase over time accumulates on itself because the base amount changes due to additions made in previous periods.