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Savings Bond
Government-issued bonds that are designed for individual investors and offer a fixed interest rate over a fixed period of time.
Matures
Refers to the point in time when a financial instrument, like a bond or loan, reaches its due date and the principal amount must be repaid.
Compounded Monthly
Compounded monthly refers to the process of calculating interest where the interest earned each month is added to the principal, and the next month's interest is calculated on the new total.
College Tuition
The fee that students pay to cover the cost of instruction at a college or university.
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