Examlex
If the income elasticity of demand for a Miami Dolphins season ticket is 2.34,then are Dolphins season tickets a normal or an inferior good?
Nominal Rate
The nominal rate is the interest rate stated on a loan or financial product, not accounting for inflation or other factors that affect purchasing power.
Repayment Of Principal
The process of paying back the original amount borrowed in a loan, separate from interest payments.
Equal Installments
A method of loan repayment where the borrower pays the lender a constant amount of money periodically, covering both principle and interest.
Repay
The action of paying back borrowed money to the lender.
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