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Retirement Plan
A financial strategy designed to provide individuals with income or assets to rely on after they have ceased working, often involving savings, investments, and other financial products.
Compounded Semi-annually
This refers to the practice of applying interest to an existing amount plus any accumulated interest twice yearly.
Monthly Mortgage
A regularly scheduled payment which includes principal and interest owed on a mortgage.
Loan Payment
A payment made to reduce the outstanding balance of a loan, often made on a monthly basis.
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