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Which of the Following Is Described as a System Where

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Which of the following is described as a system where customers send their checks directly to a post office box that belongs to a bank?


Definitions:

Par-Value

The face value of a bond or stock as stated by the issuer, which is typically the amount repaid at maturity for bonds.

Modified Duration

A formula used to determine the sensitivity of a bond's price to a 1% change in interest rates, indicating the percentage change in price for each percentage point change in yields.

Market Yield

The current annual income returned on an investment, measured as a percentage of the investment's market price.

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