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What would be the major product of the following reaction?
Loan
Money that is borrowed, typically from a bank or financial institution, that is expected to be paid back with interest.
Compounded Monthly
The process of adding interest to the principal sum of a loan or deposit on a monthly basis.
Economic Value
The worth of a good or service determined by its ability to generate income or utility.
Compounded Monthly
Involves calculating and adding interest to the principal amount of an investment or loan on a monthly basis.
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