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Terms
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- accelerated depreciation
- a method of depreciation in which greater depreciation is recorded during the early years of the estimated useful life of an asset
- adjustable rate mortgage
- a mortgage in which the interest rate charged is adjusted periodically to more closely reflect current interest rates.
- brokerage fee
- a fee charged for the services of a stockbroker
- closing costs
- the fees paid at the time documents are signed transferring ownership of real estate
- commercial zone
- land area that is designated for business
- commission rate
- a specified percent of total sales of specified amount of money paid for selling a product
- conventional mortgage
- a mortgage in which a fixed interest rate is charged and fixed payments are made on the loan throughout the term of the loan
- depreciation
- the loss in value of physical property due to use
- down payment
- the initial cash payment made at the time of purchase when an item is paid for with an installment loan
- exchange rate
- the value of the currency of one nation expressed in terms of another nation's currency
- fair labor standards act
- a law enacted by congress which permits the federal government to set a min wage and requires that employees receive overtime pay for working more than 40 hours per week
- installment loan
- a loan that is repaid in several equal payments over a specified period of time and for which the total finance charge is known at the time of purchase
- inventory
- a list of goods purchased by a company and held for resale to customers.
- average daily balance
- a means of determining finance charges on an open-end credit account
- net income
- the difference between the gross profit and total operating expenses
- odd pricing
- the pricing strategy of setting a price slightly below a whole number of dollars
- points
- a fee charged by lenders for a real estate loan
- tariff
- a sked of taxes levied on goods as they are imported into a country or exported out of a country
- universal product code upc
- a bar code printed on the package of a product intended for resale to the consumer