Examlex
A principal is contractually bound to a third party if the agent acts without any authority but the principal ratifies the contract.
Investments
The action or process of investing money for profit, including assets such as stocks, bonds, real estate, or commodities.
Compounded Annually
Interest calculation method where the interest is added to the principal at the end of each year, affecting the next year's interest.
Initial Payment
The first payment made in a series of payments for the purchase of an item or service.
Retirement Plans
Retirement plans are financial strategies that include saving, investment, and eventual distribution of funds meant to sustain one's living expenses after retiring from work.
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