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Figure 1.2
Using the figure above, identify the labeled part.
-Label G: ______________________________
Payments
Amounts of money paid by one party to another in exchange for goods, services, or repayment of a loan.
Compounded Semi-Annually
The method of calculating interest where the accrued interest is added to the principal sum every six months.
Lump Payment
A single, large payment made at once, as opposed to smaller, periodic payments.
Compounded Semi-Annually
This is the process where interest is added to the principal sum of a loan or deposit twice a year, resulting in interest being earned on interest from that point on.
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