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2. Fixed-rate mortgage - Wikipedia

   en.wikipedia.org/wiki/Fixed-rate_mortgage

   A fixed-rate mortgage (FRM) is a mortgage loan where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may adjust or "float". As a result, payment amounts and the duration of the loan are fixed and the person who is responsible for paying back the loan benefits from a ...

3. Amortization calculator - Wikipedia

   en.wikipedia.org/wiki/Amortization_calculator

   An amortization calculator is used to determine the periodic payment amount due on a loan (typically a mortgage), based on the amortization process. [ 1 ] The amortization repayment model factors varying amounts of both interest and principal into every installment, though the total amount of each payment is the same.

4. What you need to know about short-term loans - AOL

   www.aol.com/finance/know-short-term-loans...

   These loans usually allow you to borrow just 25 to 50 percent of the car’s market value and can come with APRs of 300 percent and repayment windows as short as 15 to 30 days.

5. Equivalent annual cost - Wikipedia

   en.wikipedia.org/wiki/Equivalent_annual_cost

   Estimating the cost savings required to justify the purchase of new equipment. [13] Determining the cost of continuing with existing equipment. [14] Where an asset undergoes a major overhaul, and the cost is not fully reflected in salvage values, to calculate the optimum life (i.e., lowest EAC) of holding on to the asset. [15]

6. Payday loan - Wikipedia

   en.wikipedia.org/wiki/Payday_loan

   This is an accepted version of this page This is the latest accepted revision, reviewed on 27 December 2024. Short-term unsecured loan A shop window in Falls Church, Virginia, advertising payday loans. A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a short-term unsecured loan, often characterized by high interest ...

7. Compound interest - Wikipedia

   en.wikipedia.org/wiki/Compound_interest

   Canadian mortgage loans are generally compounded semi-annually with monthly or more frequent payments. [1] U.S. mortgages use an amortizing loan, not compound interest. With these loans, an amortization schedule is used to determine how to apply payments toward principal and interest. Interest generated on these loans is not added to the ...