Examlex
Identify the following quality control activities as either value-added or non-value-added.
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Annuity
A financial product that pays out a fixed stream of payments to an individual, primarily used as an income stream for retirees.
Interest Rate
Interest rate is the percentage charged by a lender to a borrower for the use of assets, adjusting for the cost of credit or the return on investment.
Lump Sum
A single payment made at a particular time, as opposed to several smaller installments.
Future Value
The value of an investment at a specified date in the future that accounts for a specified rate of interest or rate of return.
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