Examlex
All of the following payments for medical items are deductible with the exception of the payment for
Simple Interest
Interest calculated only on the principal amount, or the initial sum of money invested or loaned.
Market Rate
The prevailing interest rate available in the marketplace for investments, loans, and deposits.
Simple Interest
Interest calculated only on the principal amount, or the original sum of money lent or invested, without compounding.
Savings Account
A deposit account held at a bank or other financial institution that provides modest interest income.
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