Examlex
Martha approaches Stellar Constructions to buy construction equipment. Martha provides Stellar Construction with a written commitment issued by her bank stating that payment will be made to Stellar Constructions as long as all selling conditions have been met. It is evident that Martha uses _____ to pay Stellar Constructions.
Open-end Mutual Funds
Investment funds that continually issue new shares and buy back existing shares from investors, without a fixed number of shares.
Guaranteed Rate
A fixed interest rate agreed upon in a financial contract, ensuring that the rate will not change for the contract's duration.
Net Asset Value
The value per share of a mutual fund or ETF, calculated by dividing the total value of all the securities in the portfolio, minus liabilities, by the number of shares outstanding.
Closed-end Fund
A type of investment fund with a fixed number of shares that are traded on a stock exchange, unlike open-end funds that can issue or redeem shares at any time.
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