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Many of these technical advances revolved around the development of luxury items, and the most notable among them was the invention of true ___________.
Simple Interest
Interest calculated on the principal amount of a loan or investment, without compounding over time.
Yield
The income return on an investment, typically expressed as an annual percentage rate based on the investment’s cost, its current market value, or its face value.
Promissory Note
A financial instrument that contains a written promise by one party to pay another a definite sum of money either on demand or at a specified future date.
Commercial Paper
A short-term unsecured debt instrument issued by corporations, typically for financing accounts receivable and inventories.
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