Examlex
Which of the following is NOT true about PACs?
Rate of Return
The gain or loss on an investment over a specified period, expressed as a percentage of the investment’s cost.
Lottery
A form of gambling involving the drawing of numbers at random for a prize.
Compounded Monthly
Interest on an investment or loan calculated monthly and added to the principal sum for future interest calculations.
Pay Off
To settle a debt or obligation by making a payment, either in partial settlements or in full, to clear the owed amount.
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