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An example of a(n) ________ is a two-metre high cardboard display of Frosty the Tiger placed next to Kellogg's Frosted Flakes breakfast cereal boxes in the supermarket aisle.
Contract
A contract that is recognized and can be enforced by law, formed between two or more participants.
Simple Interest
Simple Interest is a calculation of interest that does not take into account the effect of compounding. It is typically calculated by multiplying the daily interest rate by the principal amount and the number of days that elapse between payments.
Early Redemption
The act of returning a financial instrument, such as a bond, before its maturity date, often subjecting the holder to a penalty or reduced return.
Term Deposit
A financial vehicle offered by banks that locks funds for a certain period, earning a specified interest rate.
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