Doug is not familiar with the file extensions of .mdb, .accdt, or .accde referenced in the figure shown above. Explain the purpose of each.
Definitions:
Compound Interest
Interest calculated on the initial principal, which also includes all of the accumulated interest of previous periods of a deposit or loan.
Time Periods
Specific durations of time used for accounting purposes, such as fiscal quarters or years.
Discounted
The process of determining the present value of a future amount by applying a discount rate.
Present Value
The current value of a future sum of money or stream of cash flows, discounted at a specified rate of return.
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