ACCRUED INTEREST Definition

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ACCRUED INTEREST is interest earned but not paid since the last due date.

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INTENSITY DRIVERS are used to directly charge for the resources used each time an activity is performed.

WRAP ACCOUNT at its most basic is an alternative form of commission arrangement between a securities firm and its client. Wrap accounts generally charge the client an annual fee based on assets in the account in lieu of a per transaction commission structure. In other words, the firm "wraps" together all the costs and charges them off as a "management fee". Firms often add further features to wrap accounts such as investment management, custodial services, and enhanced reporting.

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