Examlex
The federal/state entitlement program that came out of the Title XIX of the Social Security Act that pays for medical assistance for individuals with low income is called Medicaid, which became law in 1965 and is funded only by the individual state governments.
Compounded Monthly
The process of adding interest to the principal sum of a loan or deposit, or in other words, interest on interest, on a monthly basis.
Deposit
A sum of money placed in a bank account or paid as the first installment on a purchase, establishing a right to the full ownership or to secure a contract.
Birthday Money
A non-formal term usually referring to money received as a gift on one's birthday.
Compounded Monthly
A method where interest is added to the principal sum at the end of each month, with each subsequent calculation including interest on interest.
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