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USA: California Lottery

     Posted on: April 30, 2013

The Birth of the California State Lottery The Lottery was created by a ballot measure, Proposition 37, which was approved by 58 percent of voters on Nov. 6, 1984. The Lottery Act gave the Lottery a clear mission: to provide supplemental funding for public schools and colleges. Initially, the Lottery Act capped ...


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Time value of money Foreign Exchange Market Floating Exchange Rates Mutual Funds
The time value of money is the value of money with a given amount of interest earned or inflation accrued over a given amount of time. Forex (FX) is a form of exchange for the global decentralized trading of international currencies. Type of exchange rate regime wherein a currency’s value is allowed to fluctuate according to the foreign exchange market. Professionally managed collective investment vehicle that pools money from many investors to purchase securities.