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A customer who is insolvent is able to make only partial payments on credit accounts.
Present Value
The current worth of a future sum of money or stream of cash flows given a specified rate of return, discounting future amounts to their present values.
Annual Rate
Typically refers to the interest rate for a whole year, often applied in terms of loans, investments, or savings.
Invests
The act of allocating resources, usually money, with the expectation of generating an income or profit.
Present Value
The present value of a sum of money or sequence of cash flows expected in the future, calculated using a certain rate of return.
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