Optical Mark Recognition (OMR) and Optical Character Recognition (OCR) Are

question 57

Short Answer

Optical mark recognition (OMR) and optical character recognition (OCR) are the two categories of a(n) _____.

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Definitions:

Annual Payments

Regular payments made once a year, often associated with loans, annuities, or other financial agreements.

Interest Rate

It's the rate, in the form of a percentage of the principal, charged by lenders to borrowers for asset usage.

Compounded Monthly

Interest calculation method where the interest amount is added to the principal sum so that the next interest calculation includes interest upon interest.

Principal Paid

The portion of a loan payment that goes toward reducing the original amount borrowed, distinct from interest or other fees.