Examlex
A U.S.senator has a ________-year term.
Annual Rate
The interest rate for a whole year, as opposed to a rate for a shorter period.
Terms of Payment
The conditions under which a seller will complete a sale, often specifying the period allowed to a buyer to pay off the amount due.
Compensating Balance
A minimum bank balance that a borrower must maintain as a condition for obtaining a loan, often used to compensate banks for the loan services.
Effective Interest Rate
The real interest rate on a loan or financial product, accounting for the effect of compounding over a given period.
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