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In Petaluma,California,electric Power Is Provided to Consumers by the Power

question 59

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In Petaluma,California,electric power is provided to consumers by the Power To The People Electrical Company,a local co-op.Each month PTTP mails bills to 70,000 households and then processes payments as they are received.What is the best way for this business to ensure that payment data entry is efficient and accurate?


Definitions:

Simple Interest

A method of calculating interest whereby it is applied only to the principal amount, not including any previously earned interest.

Deposit Maturity

The end of a deposit term at which point the deposited funds plus any accrued interest are available to the account holder.

Deposit Date

The specific day on which funds are placed into an account.

Maturity Value

The total amount payable to an investor at the end of a fixed term investment, including the principal and the interest.

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