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While applying for the position of administrative assistant,Rachel was asked to provide the name and phone number of her previous supervisor.She was also provided the alternative of presenting a letter from her previous supervisor vouching for her performance on the job.Which of the following tools used in the initial selection process is illustrated in this case?
Future Value
An estimation of a current asset's value on a future date, determined by projecting its growth rate over time.
Mortgage Rate
The interest rate charged on a mortgage loan, determining the cost of borrowing for purchasing property.
APR
Annual Percentage Rate, the annual rate of interest without taking into account the compounding of interest within that year.
First Mortgage Payment
The initial payment made on a mortgage loan, which typically covers interest and principal.
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