Two Terms for today:
Term of the Day

commercial bank

An institution which accepts depositsmakes business loans, and offersrelatedservices. Commercial banks also allow for a variety of depositaccounts, such as checking, savings, and time deposit. These institutions are run to make a profit and owned by a group of individuals, yet some may bemembers of the Federal Reserve System. While commercial banks offerservices to individuals, they are...
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Usage Example
EIB is the first commercial bank since Urban Bank that was shut down by the central bank due to insolvency.
Notable Quotable
"If you would like to know the value of money, go and try to borrow some." 
-Benjamin Franklin
Term of the Day

present value (PV)

Estimated current value of a future amount to be received or paid out, discounted (see discounting) at an appropriate rate, usually at the cost of capital rate (the current market interest rate). PV provides a common basis for comparing investmentalternatives. Also called present worth. See also net present value, discounted cash flow, and future value.
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Usage Example
$1.00 received (or spent) one year from now is equivalent to a present valueof roughly $0.9091.