Match each of the following terms with the most appropriate definition:
Definitions:
Compounded Monthly
The process of adding interest to the principal balance of a loan or deposit on a monthly basis, resulting in interest on interest.
Compounded Quarterly
Compound interest that is calculated and added to the principal balance of an investment or loan on a quarterly basis, effectively increasing the amount of interest earned or paid each quarter.
Interest Rate
Interest Rate is the charge for the privilege of borrowing money, typically expressed as an annual percentage rate.
Compounded Semi-Annually
Compounded semi-annually refers to the process where interest on an investment or loan is calculated and added to the principal balance twice a year.
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