Please Define the Following Key Terms

question 65

Essay

Please define the following key terms. Show Who? What? Where? When? Why Important?
-Zealots

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Definitions:

Compounded Annually

A method in which interest is calculated once per year and added to the total sum, affecting the principal for the next period.

Promissory Note

A promissory note is a financial instrument that contains a written promise by one party to pay another party a determinate sum of money either on demand or at a specified future date.

Compounded Semi-Annually

The method of calculating interest on a principal where the interest is computed twice a year and each interest payment is added to the principal for future calculations.

Discounted Rate

A reduced price or rate from the original cost, typically applied to encourage prompt payment or purchase.