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Explain why welfare caseloads have dropped dramatically since the mid-1990s. What are the positive and negative consequences of the policy change that reduced welfare rolls?
Compounded Semi-annually
A method of calculating interest where the earned interest is added to the principal every six months, allowing interest to be earned on the previously earned interest.
Lump Payment
A single, large payment made at once, instead of breaking it into smaller installments.
Amortization Period
The length of time over which the principal amount of a loan, mortgage, or other debt is scheduled to be paid off.
Amortization Period
The length of time it takes to pay off a loan or mortgage in full with regular payments that cover both principal and interest.
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