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FDIC or Federal Deposit Insurance policies Corporation – Commonly a federal agency which insures a client’s deposit in their discounts and for any loan of nearly $100,000 For each account. These deposits will consist of discounts and examining accounts and in addition deposit certificates.
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Secured loan – That is a loan in which the borrower will pledge his asset click here like a car or household which can be bought if he is not able to pay back again the loan.
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Compound interest – Interest that's computed within the loan’s stability, the equilibrium will include all desire which happens to be unpaid.
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