Examlex
The ________ is the benchmark rate of interest charged on loans to a business borrower by a bank.
Total Interest
The sum of all interest payments made over the life of a loan or investment.
Compounded Quarterly
The process of calculating interest on both the initial principal and the accumulated interest from previous periods on a quarterly basis.
Amortization Period
The total length of time over which equal regular payments will repay a loan.
Equal Payments
Regular payments of the same amount over the term of a loan or mortgage.
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