The SDLC Consists of Four Discrete Phases - Planning,analysis,design and Implementation

question 23

True/False

The SDLC consists of four discrete phases - planning,analysis,design and implementation - where each step must be completed before the next phase can commence.

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Definitions:

Cost of Funds

The interest rate that financial institutions pay for the use of money or funds they lend out to borrowers.

Principal

Principal refers to the original sum of money borrowed in a loan or invested, exclusive of any interest or dividends.

Annual Payments

Periodic payments made once every year, often used in terms of loans, insurance, and investments.

Outstanding Balance

The amount of money owed on a loan or credit line that has not yet been repaid.