Simple Interest Is Akin to the Effective Annual Rate (EAR)and

question 83

True/False

Simple interest is akin to the effective annual rate (EAR)and compound interest is akin to the annual percentage rate (APR).

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Definitions:

Bailment

A legal relationship in which physical possession of personal property is transferred from one person to another with the understanding that the property will be returned.

Personal Property

Movable items owned by an individual as opposed to real estate or land.

Property Rights

Legal rights to possess, use, and dispose of assets including real estate, personal property, and intellectual property.

Abandoned Property

Property that has been discarded by the owner, who has relinquished all rights and claims over it.