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After collecting the data for her thesis project, Rae places the master list of participants' names in a locked filing cabinet separate from where she keeps her data. Rae stores her information in this way to maintain:
Educational Savings Plan
A savings account specifically designed for funding future education expenses, often offering tax advantages or other incentives.
Simple Interest
A method of calculating interest where the interest charge is based only on the principal amount, not on previously earned interest.
Total Interest
The entire amount of interest paid over the life of a loan or financial product.
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