Term
|
Definition
| Interest paid or figured on the original amount only of a loan or on the amount of an account. |
|
|
Term
|
Definition
| The initial amount borrowed or invested for a certain period of time. |
|
|
Term
|
Definition
| The fee charged by a lender to a borrower for the use of borrowed money. |
|
|
Term
|
Definition
| An amount which is paid for the use of money. Often expressed as annual percentage of the principal. |
|
|
Term
|
Definition
| Period of time you have to repay the loan or to earn interest on your invested money. |
|
|
Term
|
Definition
| Method of computer interest based on 360-days. |
|
|
Term
|
Definition
Method of computer interest based on 365-days.
(366 days on leap year). |
|
|
Term
|
Definition
| The full amount of money that must be repaid when the loan is due; the principal plus the interest. |
|
|
Term
|
Definition
| The date on which the principal and interest associated with a debt security must be repaid in its entirety. |
|
|
Term
|
Definition
| A document signed by the borrower promising to repay a loan under agreed-upon terms. |
|
|
Term
|
Definition
| A promissory note that states an interest rate |
|
|
Term
| Non-interest-bearing note |
|
Definition
| A note that does not specify an interest rate |
|
|
Term
|
Definition
| Interest that is collected in advance by a bank |
|
|
Term
|
Definition
| The amount the borrower receives (maturity value less the bank discount). |
|
|
Term
|
Definition
| The person or business borrowing the money. |
|
|
Term
|
Definition
| The person or business who lent the money and who will receive the repayment. |
|
|
Term
|
Definition
| The dollar amount of the note/promissory note |
|
|
Term
|
Definition
| Date the loan is to be repaid |
|
|
