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A security has a price of $3,000 and an amount to be repaid in a single payment of $3,400.What is the amount of interest on the security?
Social Security Taxes
Taxes levied on both employers and employees to fund the Social Security program, which provides retirement, disability, and survivorship benefits.
Tax Refund
A tax refund is the return of excess taxes paid by an individual or business to the government, usually received after the annual tax return is processed.
Whole Life Insurance
A type of insurance that combines a life insurance policy with an investment feature; policyholders pay a premium that is divided between the insurance portion and the investment portion.
Cash Value
The value of the investment portion of a whole life insurance policy.
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