maturity date the date that a borrower must repay a bond

municipal bonds a bond issued by cities that wish to borrow

mutual funds funds that buy a range of stocks or bonds from different companies, thus allowing an investor

an easy way to diversify

partnership a company run by a group as opposed to an individual

present value a bond’s current price at a given time

private company a firm frequently owned by the people who generally run it on a day-to-day basis

public company a firm that has sold stock to the public, which in turn investors then can buy and sell

risk a measure of the uncertainty of that project’s profitability

savings account a bank account that pays an interest rate, but withdrawing money typically requires a trip to

the bank or an automatic teller machine
430 17 • Key Concepts and Summary

shareholders people who own at least some shares of stock in a firm

shares a firm's stock, divided into individual portions
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