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The amendments brought in by the Patriot Act have made it possible for:
Compounded Semi-annually
Refers to the process of calculating interest on both the initial principal and the accumulated interest from previous periods twice a year.
Amortization Schedule
A table detailing each periodic payment on an amortizing loan (typically a mortgage), as well as how much of each payment is interest versus principal and the balance remaining after each payment.
Compounded Semi-annually
Interest calculation method where interest is added to the principal sum of a loan or deposit twice a year, resulting in interest earning interest.
Amortization Schedule
An amortization schedule is a table detailing each periodic payment on an amortizing loan, including amounts going towards principal and interest over the life of the loan.
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