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单词 floating-rate contract
释义

floating-rate contract

Definition
Bank or insurance company issued pension plan which the owner purchases in a lump sum payment. Floating-rate contract principal amounts are guaranteed by the issuing bank or insurance company, and the payoff to the owner is provided with a variable interest rate. Payments from floating-rate contracts may be received in a lump sum upon retirement or through installment payments. Also called guaranteed investment contract.
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更新时间:2025/4/17 6:33:36