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The application of steam power, oil, and electricity led to the emergence of the globalization of the economy.
Required Rate
The minimum rate of return that an investor expects or requires from an investment to make it worthwhile.
Timeframe
The period during which certain actions are supposed to occur or a particular event is planned to take place.
Present Value
The current worth of a future sum of money or stream of cash flows, given a specified rate of return. Present value accounts for the time value of money.
Interest Rate
The financial obligation a borrower incurs to a lender, calculated as a percentage of the principal, for the right to use certain assets.
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