Examlex
Which of the following is an advantage of written communication?
Promissory Note
An economic tool comprising a formal pledge by one entity to give a specific amount of money to another, either upon request or at a predetermined future time.
Term Deposit
A type of financial account where money is deposited for a fixed period and a predetermined interest rate, offering higher interest rates than savings accounts but with restricted access to funds.
Simple Interest
A technique for computing interest in which the interest expense is calculated solely on the initial amount of the principal.
Maturity Value
The total amount that will be paid to the investor at the end of a fixed-term investment, including the principal and any accrued interest.
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