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The actual increase or decrease from a reference value to a new value. Absolute Change = New Value - Reference Value
A fraction that describes the size of the absolute change in comparison to the reference value. Relative Change = Absolute Change/Reference Value
The actual difference between the compared value and the reference value. Absolute difference = compared value - reference value
The size of the absolute difference as a fraction of the reference value. Relative difference = Absolute difference/reference value
The Relation of "Of" to "More Than"
Using more than states an increase in the percentage. Using of states a ration of the new percentage to the original.
The charge for the privilege of borrowing money, typically expressed as an annual percentage rate.
Annual percentage yield. Applied to any investment but not typically a mortgage, to compare investments with different or no compounding schemes.
The interest rate described in relation to a specific amount of time. For example, the Monthly Periodic Rate is the cost of credit per month; the Daily Periodic Rate is the cost of credit per day
a credit agreement that allows consumers to pay all or part of the outstanding balance on a loan or credit card. As credit is paid off, it becomes available again to use for another purchase or cash advance
Fixed Rate Mortgage
A mortgage in which the interest rate does not change during the entire term of the loan.
Adjustable Rate Mortgage
Has an interest rate that increases or decreases during the life of the loan.
a mortgage in which the entire remaining balance of the loan is due in one single payment
a deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
A check returning the taxpayers money to the taxpayer after tax retuns are filed and the over paid tax is determined.
A stated amount that you may subtract from adjusted gross income instead of itemizing your deductions
a specific expense, such as mortgage interest, that you deduct from your adjusted gross income.
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