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Loan Payment
A payment made to reduce the outstanding balance of a loan, often made on a monthly basis.
Compounded Monthly
Pertains to the frequency in which interest earnings are added to the principal investment amount, occurring every month.
Monthly Payment
Monthly payment is the amount of money paid each month towards the repayment of a loan, mortgage, or other financial obligation.
Loan
Money borrowed that is expected to be paid back with interest.
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