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Promissory Note
A financial instrument containing a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.
Promissory Note
A financial instrument involving a written promise by one party to pay another a definite sum of money either on demand or at a specified future date.
Simple Interest
Interest calculated only on the original principal, not on the accumulated interest from previous periods.
Maturity Value
The amount payable to an investor at the end of a debt instrument's life, including both the principal and the interest.
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