INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 39

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-Mutual funds must value their securities [monthly | daily].

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

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Definitions:

Interest Annually

Interest calculated once a year on the principal or existing amount.

Equal Payments

Payments that are the same in amount, typically referring to the consistent and periodic payments made over the life of a loan or for a subscription service.

Rate of Interest

The percentage at which interest is paid by a borrower for the use of money they borrow from a lender.

Final Payment

The last payment made to settle a financial obligation, completing the payment schedule.