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Characteristics of the market affect the amount of external information search.
Monthly Payment
Monthly payment is the amount of money paid each month towards the repayment of a loan, mortgage, or other financial obligation.
Loan
Money borrowed that is expected to be paid back with interest.
Compounded Annually
The calculation of interest on the principal sum of a deposit or loan, where the interest is added once per year.
Compounded Monthly
An interest calculation method where the interest earned is added to the principal every month, thus earning interest on interest from the preceding month.
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