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Judges in future cases are not as likely to follow the dicta in prior cases as they are the holdings.
Ordinary Annuity
An annuity in which payments are made at the end of each period, such as monthly or annually, commonly found in loans and savings plans.
Compounded Annually
Interest calculation method where the interest is calculated once per year and added to the principal sum, affecting the calculation of future interest.
Compounded Semi-annually
Interest calculation method where interest is added to the principal twice a year, allowing the interest to grow faster than simple interest.
Savings Plan
A systematic approach to setting aside funds to reach financial goals.
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