A person, company or country has an absolute advantage if its output per unit of input of all goods and services produced is higher than that of another person, company […]

A stipulation in a loan contract stating that the entire balance becomes due immediately if other contract conditions are not met.

Interest that has been earned but not received or recorded.

Corporation chartered by a state to engage in international banking: so named because the corporation enters into an “agreement” with the Fed’s Board of Governors that it will limit its […]

The process of fully paying off indebtedness by installments of principal and earned interest over a definite time.

The cost of credit on a yearly basis expressed as a percentage.

A series of equal payments made at regular intervals, with interest compounded at a specified rate.

The charge for estimating the value of property offered as security.

An increase in the value or price.

Anything an individual or a business owns that has commercial or exchange value.