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Absolute advantage

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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 […]

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Acceleration clause

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

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Accrued Interest

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Interest that has been earned but not received or recorded.

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Agreement corporation

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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 […]

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Amortization

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

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Annual Percentage Rate (APR)

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

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Annuity

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

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Appraisal fee

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

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Appreciation

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An increase in the value or price.

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Asset

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

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