Examlex
Briefly describe what is meant by an "initiating structure."
Perpetual Scholarship
A scholarship fund that provides financial aid indefinitely, usually through an endowment that generates interest used to fund the scholarship.
Compounded Monthly
This refers to the calculation and addition of interest to the principal sum of a loan or deposit on a monthly basis.
Equal Monthly Payments
Fixed payments made every month, as in a loan or mortgage, ensuring that the loan is paid off over a specified period.
Compounded Monthly
A method where interest earnings are calculated and added to the principal amount each month, allowing the interest to then earn interest in subsequent months.
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