Examlex
To be useful, market segments must rate favourably on five key criteria. List and explain those criteria.
Compounded Monthly
Describes the process of calculating interest on both the initial principal and the accumulated interest from previous periods on a monthly basis.
Mortgage
A loan used to purchase real estate, secured by the property itself, which the borrower is obligated to pay back with a predetermined set of payments.
Balance
The amount of money in a financial repository, such as a bank account, at any given time, or the equilibrium state of an account after considering all debits and credits.
Insurance Settlement
The process where an insurance company pays out to a policyholder after a claim has been verified.
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