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Promissory Note
A financial instrument constituting a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.
Simple Interest
Interest calculated solely on the principal amount of a loan or deposit, without compounding.
Consecutive GICs
A sequence of Guaranteed Investment Certificates held one after another, often to create a ladder strategy for managing interest rate risk.
Interest Rates
The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.
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