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The precise rectangular grid pattern imposed on the Northwest Territory became the national model for all subsequent federal land policies.
Effective Rate
The actual interest rate on an investment or loan, accounting for the effect of compounding over a given period.
Deposits
Funds placed into banking institutions for safekeeping. These can be made into various types of accounts including savings, checking, and money market accounts.
Effective Rate
The actual interest rate an investor receives after the effects of compounding interest are taken into account.
Compounding Interval
The period of time at the end of which interest is added to the principal balance of an investment or loan.
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