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Describe a Purpose of Databases and the Functions of a Database

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Essay

Describe a purpose of databases and the functions of a database management system (DBMS).


Definitions:

Discounting Techniques

Methods used in finance to determine the present value of future cash flows or income.

Interest Rate

The proportion of an amount of money that is charged for borrowing or using it, usually represented as a yearly percentage.

Compounded Annually

Interest calculation method where the interest is calculated on the initial principal, which also includes all the accumulated interest from the previous periods on a loan or deposit.

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