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Annual Payment
A recurring payment made once a year for a variety of purposes, including loan repayments, leases, and annuities.
Perpetuity
A type of annuity that pays a fixed amount of money to an individual indefinitely, without a termination date.
Annual Percentage Rate
The annual rate charged for borrowing or earned through an investment, including any fees or additional costs associated with the transaction.
Effective Annual Rate
The annual rate of interest that accounts for compounding over the year, providing a true reflection of the financial product's yield.
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