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Ordinary Annuity
A series of equal payments made at equal intervals of time, commonly used in calculations of loan repayments or future savings, where interest compounding occurs at the end of each period.
Expressed
Clearly communicated or made known in words, actions, or symbols.
Years
Units of time equal to 365 days, or 366 in a leap year, used to measure durations and ages.
Months
Periods into which a year is divided, each consisting of roughly 30 to 31 days, except for February which has 28 or 29 days.
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