Examlex
Identify and briefly describe the three social needs suggested by Will Schutz.
Simple Interest
Simple interest is a method of calculating the interest charge on a loan or investment based on the original principal amount and not on accumulated interest.
Contract
A legally binding agreement between two or more parties that outlines terms and conditions.
Required Rate
The minimum return or interest rate a lender demands or an investor expects to receive from an investment.
Simple Interest
Interest calculated only on the initial amount of a loan or principal, not on the interest previously earned.
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