Examlex
Most taxpayers must use the specific charge-off method in calculating the bad debt deduction.
Strip Bond
A debt security that has had its principal and coupon payments separated, or "stripped", to be sold individually.
Nominal Rate
The nominal rate is the stated interest rate of a loan or investment, not accounting for compounding or inflation.
Compounded
The process where interest earned on a principal amount is reinvested, resulting in interest earning interest over time.
Demand Loan
A loan wherein the lender is entitled to demand full repayment at any time without notice.
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