COMPOUND INTEREST Definition

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COMPOUND INTEREST is interest calculated from the total of original principal plus accrued interest.

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CERTIFIED PAYROLL REPORT means the record that a contractor or subcontractor engaged on a public work is required to submit to an awarding government body with a statement of compliance as required pursuant to regulations for each month in which the contractor or subcontractor employs one or more workmen in connection with the public work.

GNMA MIDGETS are GNMA bonds secured by mortgages with a stated maturity of 15 years.

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