Business and Personal Finance Dictionary

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• TAX RATES
  
  In some home-financing calculators, you are asked to make a comparison between two financing options. If one of the options costs more than another, the difference is invested into a savings account because you've saved money with that option. To make a fair comparison, the calculator tracks the balance and interest earnings on this account. As earnings in this account grow, they are taxed at the rate you indicated. Your personal tax rate is also used to compute your tax savings.
  
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