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The Navigation Acts were a part of the English mercantile system.
Simple Interest
A financial term referring to a method of calculating the interest charge on a loan or investment based on the original principal amount, the interest rate, and the time the loan or investment is made for.
Guaranteed Investment Certificate
A secure investment that guarantees to return the principal plus interest at a specified rate over a fixed period.
Annual Interest Rate
The percentage of principal that is paid as interest to the lender annually, not accounting for the compound interest within that year.
Maturity Value
The final amount payable at the end of a financial instrument's term, including the principal and accumulated interest.
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