Examlex
Define lexical meaning and describe how it changes over time.
Pay Off
A financial term describing the complete repayment of a loan or debt along with any interest owed.
Simple Interest Rate
Interest calculated only on the principal amount, not on the interest earned in previous periods.
Term Of Loan
The duration scheduled for the repayment of the loan.
Simple Interest
A method of calculating the interest charge on a loan based on the original principal amount and the rate of interest per period.
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