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Lump Sum Payment
A payment made in a single lump sum amount, often used in the context of paying off debts or settling transactions.
Sinking Fund
A reserve fund established by setting aside revenue over a period of time to fund a future capital expense or repay a long-term debt.
Year-end Amounts
Refers to the final recorded figures of financial accounts at the end of the fiscal year, important for financial reporting and analysis.
Compounded Annually
Interest calculation method where the interest is added to the principal sum at the end of each year, so that the balance also earns interest in the following year.
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