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Annual Interest Rate
The percentage of a sum of money charged for its use or paid to investors, calculated annually.
Logarithmic Equation
An equation that involves the logarithm of an expression equal to a value or another logarithm.
Compounded Monthly
Interest is compounded monthly when it is calculated and added to the principal sum of an investment or loan each month.
Annual Interest Rate
The annual interest rate is the percentage increase in money that one earns or pays on an investment or loan over the span of one year.
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