as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain what the word 'algorithm' means.
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an algorithm is a set of instructions used to solve a problem or produce an outcome. it is a step-by-step process that can be used to solve complex problems and can be applied to many different fields, from economics and finance to computer science and engineering.
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