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Explain Why the Top Half of a Split-Wired Receptacle Is

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Essay

Explain why the top half of a split-wired receptacle is "hot" all the time and the switch-controlled half is on the bottom.


Definitions:

Floating-rate Bond

A bond whose interest payments vary with market interest rates, as opposed to a fixed-rate bond.

Implicit Interest

The interest amount represented in the difference between the present value and the future value of a payment or investment.

Nominal Face Value

The stated value of a financial instrument (e.g., bond) at issuance, unrelated to market value.

Zero Coupon Bond

A debt security that doesn't pay interest but is traded at a deep discount, offering a profit at maturity when the bond is redeemed for its full face value.

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