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To simplify the central administration of the Byzantine Empire, Heraclius replaced Latin with Greek as the language of the bureaucracy and the multiple Latin titles of the emperor with the single Greek title of "king" or _______.
Underlying Asset
The financial asset upon which a derivative's value is based, such as stocks, bonds, commodities or currencies.
Black-Scholes
A mathematical model used to price European options, evaluating their potential value by factoring in volatility, asset price, time, and risk-free rate.
Risk-Free Rate
The theoretical rate of return on an investment with zero risk, often represented by the yield on government bonds.
Call Option
A financial contract giving the option buyer the right, but not the obligation, to buy a stock, bond, commodity, or other asset at a specified price within a specific time period.
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