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Ross is fifteen minutes away from work when his car begins to chug and lurch. He pulls the vehicle off to the side of the road and the engine dies. Although distressed, he decides he can call his boss on the cell phone then walk to a nearby service station for help. Ross's reaction is an example of __________
Repaid
The act of paying back money previously borrowed from a lender.
Original Loan
The initial amount of money borrowed in a loan agreement before any repayments or interest payments are made.
Guaranteed Investment Certificate
A Guaranteed Investment Certificate (GIC) is a Canadian investment that offers a guaranteed rate of return over a fixed period, often with fixed interest rates.
Compounded Quarterly
Interest that is calculated and added to the principal at the end of every quarter, leading to an increase in the amount of subsequent interest.
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