Functional programmingIn computer science, functional programming is a programming paradigm where programs are constructed by applying and composing functions. It is a declarative programming paradigm in which function definitions are trees of expressions that map values to other values, rather than a sequence of imperative statements which update the running state of the program. In functional programming, functions are treated as first-class citizens, meaning that they can be bound to names (including local identifiers), passed as arguments, and returned from other functions, just as any other data type can.
Compound interestCompound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on principal plus interest. It is the result of reinvesting interest, or adding it to the loaned capital rather than paying it out, or requiring payment from borrower, so that interest in the next period is then earned on the principal sum plus previously accumulated interest. Compound interest is standard in finance and economics.
InterestIn finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay to the lender or some third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit or reserve, but not at a particular rate decided beforehand, rather on a pro rata basis as a share in the reward gained by risk taking entrepreneurs when the revenue earned exceeds the total costs.
Development studiesDevelopment studies is an interdisciplinary branch of social science. Development studies is offered as a specialized master's degree in a number of reputed universities around the world. It has grown in popularity as a subject of study since the early 1990s, and has been most widely taught and researched in developing countries and countries with a colonial history, such as the UK, where the discipline originated.
