Examlex
Which of the following words is misspelled?
Contract Rate
This refers to the interest rate stated in a contract that determines the amount of interest owed on a loan or financial agreement.
Stated Rate
The interest rate expressed in the terms of a loan or investment agreement, not necessarily reflecting the actual yield.
Effective Rate
The effective rate is the actual interest rate on a loan or financial product, taking into account the compounding of interest, as opposed to the nominal rate.
Debenture Bond
A debenture bond is a type of unsecured loan that is backed only by the general creditworthiness and reputation of the issuer, not by any collateral.
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