SERVICE FEE Definition

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SERVICE FEE see SERVICE CHARGE.

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PUTABLE BOND is a bond that contains a provision that allows the holder, or investor, a put option to tender the bond prior to maturity, generally at par. Normally a holding period, often several years, must occur before the put option may be exercised. However, the holder has flexibility, in the event interest rates go up, to tender this bond long before its normal maturity.

USEFUL LIFE is the expected period of time, in years, during which a depreciating asset will be productive.

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