constant

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constant

The annual payment required to pay the principal and interest due on a $1 loan for a specified repayment term at a specified interest rate.Before the widespread availability of computers and extremely affordable financial calculators,it was common to use mortgage constant tables to calculate monthly payments. One would refer to the table for the proper loan term, such as 30 years, and then within that table find the loan constant for the anticipated interest rate. See the following example. The constant is the monthly payment on $1. To find out your own monthly payment, you multiply the constant by the number of dollars in your loan, and the answer is what your monthly payments would be.

References in classic literature ?
The rooms were too large for her to move in with ease: whatever she touched she expected to injure, and she crept about in constant terror of something or other; often retreating towards her own chamber to cry; and the little girl who was spoken of in the drawing-room when she left it at night as seeming so desirably sensible of her peculiar good fortune, ended every day's sorrows by sobbing herself to sleep.
But early as he woke on the next morning--and although there was an excuse for not prolonging sleep in the constant whirr and rattle of the "donkey" engine winches of the great ship--he met the eyes of Adam fixed on him from his berth.
Grave natures, led by custom, and therefore constant, are commonly loving husbands, as was said of Ulysses, vetulam suam praetulit immortalitati.
At that time, and for a good many weeks after that time, Richard was constant in his visits.
The building of a bed, chairs, table, and shelves was a relatively easy matter, so that by the end of the second month they were well settled, and, but for the constant dread of attack by wild beasts and the ever growing loneliness, they were not uncomfortable or unhappy.
His features were like his sister's, but while in her case everything was lit up by a joyous, self-satisfied, youthful, and constant smile of animation, and by the wonderful classic beauty of her figure, his face on the contrary was dulled by imbecility and a constant expression of sullen self-confidence, while his body was thin and weak.
Many Theresas have been born who found for themselves no epic life wherein there was a constant unfolding of far-resonant action; perhaps only a life of mistakes, the offspring of a certain spiritual grandeur ill-matched with the meanness of opportunity; perhaps a tragic failure which found no sacred poet and sank unwept into oblivion.
Mary tells me I am changed too; and I don't much wonder at it, for I was in a constant state of agitation and anxiety all day long: but next time I am determined to take things coolly.
A BRAZIER had a little Dog, which was a great favorite with his master, and his constant companion.
At some little distance from the farmhouse was a spring with a constant flow of clear, cold water, whence the family derived its supply for domestic use at all seasons.
Hilaire, both in varieties and in species, that when any part or organ is repeated many times in the structure of the same individual (as the vertebrae in snakes, and the stamens in polyandrous flowers) the number is variable; whereas the number of the same part or organ, when it occurs in lesser numbers, is constant.
Other losses, although not at first felt, tell heavily after a period: these are the want of room, of seclusion, of rest; the jading feeling of constant hurry; the privation of small luxuries, the loss of domestic society and even of music and the other pleasures of imagination.