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Briefly explain the core competency theory.
Compounded Annually
Interest calculated on the initial principal and also on the accumulated interest from previous periods within a year.
Home Ownership Savings Plan (HOSP)
A savings plan designed to help individuals accumulate funds towards the purchase of a home.
Quarterly
Occurring every three months or constituting one-fourth of a year.
Compounded Semi-Annually
Interest is calculated and added to the principal twice a year.
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