A Property Whose Value Depends Only on the Present Condition

question 87

Short Answer

A property whose value depends only on the present condition of the system and not how the system arrived at that condition is called a ________ function.

---

Definitions:

Compounded Monthly

The practice of calculating interest on the principal and the accumulated interest each month.

Compounded Semiannually

Interest that is calculated and added to the principal balance twice a year.

Equivalent Rate

The interest rate that would produce the same compounded financial result over a specific period as a differently compounded interest rate.

Compound Annual Rate

The rate at which a sum of money would grow if it were compounded once per year.