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Categorical Grants to States and Localities Specify Exactly What the Money

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Categorical grants to states and localities specify exactly what the money can be used for.


Definitions:

Earnings Rate

The rate at which a company or investment generates income, typically expressed as a percentage of the investment or capital.

Compound Interest

Interest calculated on the initial principal and also on the accumulated interest from previous periods.

Net Present Value

A method of evaluating investments by calculating the present value of all expected future cash flows, minus the initial investment cost.

Rate of Return

A measure of the gain or loss on an investment over a specified period, expressed as a percentage of the investment's initial cost.

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