Examlex
What is the different between an ordinary annuity and an annuity due?
Which occurs more in practice?
Give a common example of both.
Term Deposit
A banking product where money is locked away for a certain period of time at a fixed interest rate.
Maturity
The time at which a financial instrument, investment, or insurance policy reaches its final value and the principal is repaid or returned.
Interest
The price paid for the opportunity to use borrowed finances, generally expressed through an annual percentage.
Simple Interest
Interest calculated only on the principal amount, or on that part of the principal amount which remains unpaid.
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