Examlex
Paying a loan off much quicker than scheduled is one way to build a good credit rating.
Effective Rate
The actual interest rate of an investment or loan, taking into account the effects of compounding.
Compounded Semi-Annually
Interest calculation method where the interest is added to the principal sum twice a year, causing the interest to earn interest.
Strip Bond
A type of bond where the principal and regular coupon payments have been separated and are sold individually as zero-coupon bonds.
Interest
The cost of borrowing money, typically expressed as a percentage of the borrowed amount, paid by the borrower to the lender.
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