Examlex
In the circular-flow diagram, factors of production include land, labor, and capital.
Compounded monthly
Interest calculation method where the interest is added to the principal each month for the purpose of the next month's interest calculation, effectively increasing the amount over time.
Economic value
The monetary worth of a good or service as determined by the market.
Deferred annuity
An annuity contract that delays payments of income, installments, or a lump sum until the investor elects to receive them.
Ordinary annuity
Regular payments of the same amount made at set intervals, during which interest is calculated and added at the end of each period.
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