Examlex
Select the term that is spelled correctly.
-Pertaining to the heart:
Compounded Quarterly
A method of calculating interest where the interest earned is added to the principal amount at the end of each quarter, leading to interest on interest in subsequent periods.
Bank Account
A financial account maintained by a banking institution where a customer can deposit and withdraw money.
Deposit
Money placed into a financial institution or account for safekeeping or to earn interest.
Compounded Quarterly
A method of calculating interest where the interest earned is added to the principal at the end of every three-month period, subsequently increasing the amount on which future interest is computed.
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