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According to the evolutionary theory:
Compounded Semi-annually
A method of calculating interest where the interest amount is added to the principal amount twice a year, leading to compound growth.
Amortization Period
The length of time it takes to fully pay off a debt with regular payments that cover both principal and interest.
Cash-back Mortgage
A type of mortgage where the borrower receives a cash rebate upfront, often used for home improvements or debt consolidation.
Compounded Semi-annually
A method of calculating interest where the interest is added to the principal amount twice a year and then interest is subsequently earned on the new principal.
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