Define the following terms: a. Maker b. Payee c. Principal d. Interest e. Maturity date f. Collateral
Question:
a. Maker
b. Payee
c. Principal
d. Interest
e. Maturity date
f. Collateral
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...
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a Maker The borrower or debtor b Payee The person to whom the note is made payable ...View the full answer
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