Examlex
The calculation of an IQ, previously done by using a child's mental age, is now done by using a deviation IQ. This means that the child's score is compared to the scores of others
Motor Home
A type of self-propelled recreational vehicle (RV) that offers living accommodation combined with a vehicle engine.
Extra Payments
Payments made on a loan that exceed the minimum required payment, often used to reduce the loan balance more quickly.
Compounded Monthly
A method of calculating interest in which the accrued interest is added to the principal sum every month, so that each subsequent interest calculation is based on a slightly higher amount.
Lifetime Interest
The total amount of interest that will be paid or earned over the entire life of a loan or investment.
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