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Definition
| The calculation of interest on reinvested interest as well as on the original principal. |
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Term
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Definition
| The stated rate of interest paid by a financial institution. |
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Term
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Definition
| The true rate of interest, derived from compounding interest at the nominal interest rate. |
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Term
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Definition
| Interest compounded annually. |
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Term
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Definition
| Laws that allow a state to confiscate money from a dormant account. |
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Term
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Definition
| A rule that states that the approximate number of years required for interest to double a deposit multiplied by the interest rate should equal 72. |
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