DEF OF TERM GEN MATH Flashcards
person who invest the money or make the funds available
lender or creditor
person who owes the money or avails of the funds from lender
borrower of debtor
date in which money is received by the borrower
origin or loan date
date on which the money is borrowed or loan is to be completely repaid
repayment date or maturity date
amount of time in years the money is borrowed or invested; length of time between the origin and maturity dates
time or term (t)
amount of money borrowed or invested in the origin
Principal (p)
annual rate, usually in percent, charged by the lender, or rate of increase of the investment
rate (r)
amount paid or earned for the used of money
interest
amount of t years that the lenders receives from the borrower on the maturity date
maturity value or future value (F)
interest that is computed on the principal and then added to it
simple interest (ls)
interest is computed on the principal and also on the accumulated past interest
compound interest (lc)
number of conversion periods in oner year
frequency of conversion (m)
time between successive conversions of interest
conversion or interest period
a sequence of payments made at equal
annuity
Annuity where the payment intervals are the same as the interest period
Simple annuity
