Examlex
What is meant by the phrase, "There is no such thing as a free lunch"?
Accrued Interest
The interest that has accumulated on a bond, loan, or other financial instrument since the last interest payment was made.
Compounded Annually
Interest on an investment or loan calculated once a year, where each year's interest is added to the principal.
Future Value
The estimated value of an investment at a future date, taking into account variables like interest rates or compound interest, used in financial planning and assessment.
Interest Rate
The fraction of a loan amount that is applied as interest for the borrower, commonly indicated as an annual percentage of the remaining loan balance.
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