SERVICE CERTIFICATES
Service Certificates are bond-like certificates for World War I (WWI) veterans. Service certificates had face value that are the same as bonds where the payment at maturity incorporated compound interest. These certificates, once they achieve maturity, were promised to be paid to the veterans. In 1924, under the Adjusted Service Certificate Law in 1924, service certificates were distributed to WWI veterans which assured them that eligible soldiers will be receiving bonuses that will be redeemable in the year 1945.
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The total cost of an option.
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