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Match Each of the Following Terms with Its Corresponding Definition

question 73

Multiple Choice

Match each of the following terms with its corresponding definition.
-Changing over from the old information system to a new one by turning off the old system when the new one is turned on


Definitions:

Interest

Payment made for the use of borrowed money, calculated as a percentage of the principal sum.

Simple Interest

Interest calculated only on the initial amount of money (principal), not on the interest accrued over time.

Investment

Allocation of resources, such as time, money, or effort, in hope of generating a future benefit or return.

Interest Rate

The interest percentage applied on the sum of money borrowed by an individual from a financial lender.

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