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Type A employees make good team players.
Compounded Monthly
Interest calculation method where the interest is added to the principal every month, which then earns interest the following month.
Mortgage
A loan used to purchase real estate, secured by the property itself.
Outstanding Balance
The amount of money owed that has not yet been paid by the debtor.
Savings Account
A bank account that earns interest and is typically used for holding money that is not intended for daily expenses.
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