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Compound Interest
Interest calculated on the initial principal, including all of the accumulated interest from previous periods on a deposit or loan.
Present Value Factor
A factor used in calculating the present value of a future sum of money or a stream of cash flows, given a specific interest rate.
Annuity
A financial product that provides regular payments over a specified period of time, often used as a retirement income strategy.
Equal Annual
This term refers to an approach or method where amounts or payments are distributed equally across multiple years.
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