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Simplify:
Interest
The cost of borrowing money, typically expressed as a percentage of the principal amount.
Nonnegotiable
Nonnegotiable describes an object or agreement that cannot be modified or transferred through negotiation, often referring to instruments like checks or securities with fixed terms.
Mortgage
A legal agreement in which property is used as collateral for a loan, with the property title transferred to the lender until the loan is repaid.
Undated
Not having a specified date, which can pertain to documents, events, or items that lack a temporal reference.
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