Sentences with phrase «interest during a specified time period»
Not exact matches
A signed, formal document obligating a borrower to repay a loan at a stated interest rate during a specified period of time.
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Note A legal document that obligates a borrower to repay a mortgage loan at a stated interest rate during a specified period of time.
The interest rate on a CD is higher than on a savings account because the investor, in exchange for receiving a guaranteed rate of return, commits to a specified period of time (the «term») during which he will not withdraw his investment.
This is calculated by dividing the Net Operating Income (all rental income minus all reasonable operating expenses) by the Debt Service (cash required during a specified time period to cover the payment of interest and principal on a debt).
Note A legal document that obligates a borrower to repay a mortgage loan at a stated interest rate during a specified period of time.