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A cup of water is filled to the brim when an ice cube is placed in it. The tip of the ice cube sticks out of the surface. As the ice melts, you observe that
Simple Interest
Interest calculated only on the principal amount, without compounding.
Account
A record or statement that details financial transactions and their impact on an entity's financial position.
Guaranteed Annual Rate
The minimum annual return promised to an investor by an investment product, regardless of market conditions.
Fixed Rate
An interest rate that remains the same throughout the entire term of a loan, investment, or financial product.
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