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A local union must:
Compounded Monthly
A process where the interest earned on an investment is calculated and added to the principal each month, thus earning interest on interest.
Equal Payments
Regular payments of the same amount over a specified period.
Interest Earned
The profit gained from investing or saving, typically represented as a percentage of the original investment.
Compounded Quarterly
Interest calculation method where interest is added to the principal sum of a deposit or loan every quarter, influencing the amount in the next quarter.
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