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 ?
Though unworthy, from inferiority of age and strength, to be their constant associate, their pleasures and schemes were sometimes of a nature to make a third very useful, especially when that third was of an obliging, yielding temper; and they could not but own, when their aunt inquired into her faults, or their brother Edmund urged her claims to their kindness, that "Fanny was good-natured enough.
Adam's eyes were in constant employment, and it was not till Salton declared that they had now entered on the last stage of their journey, that he referred to Sir Nathaniel's coming.
We walked a little way without speaking, and presently Richard addressed me in his frankest and most feeling manner, thus: "My dear Esther, I understand you, and I wish to heaven I were a more constant sort of fellow.
In other ways she was quite rational, and the joy and happiness she took in the possession of her little son and the constant attentions of her husband made that year a very happy one for her, the happiest of her young life.
Then, my pupils being older, would be more rational, more teachable, and less troublesome than the last; they would be less confined to the schoolroom, and not require that constant labour and incessant watching; and, finally, bright visions mingled with my hopes, with which the care of children and the mere duties of a governess had little or nothing to do.
There may be truly said to be a constant struggle going on between, on the one hand, the tendency to reversion to a less modified state, as well as an innate tendency to further variability of all kinds, and, on the other hand, the power of steady selection to keep the breed true.
The pleasure derived from beholding the scenery and the general aspect of the various countries we have visited, has decidedly been the most constant and highest source of enjoyment.
Yes,' replied he, slightly averting his face: 'I thought it but civil to take the first opportunity of returning their kind attentions, since they have been so very particular and constant in their inquiries throughout the whole course of my illness.
Tarzan of the Apes, finding that his balu never ceased to give evidence of terror in the presence of the apes of the tribe, and also that most of the adult apes were a constant menace to Go-bu-balu's life, so that Tarzan dared not leave him alone with them, took to hunting with the little black boy farther and farther from the stamping grounds of the anthropoids.
Let this, my young readers, be your constant maxim, that no man can be good enough to enable him to neglect the rules of prudence; nor will Virtue herself look beautiful, unless she be bedecked with the outward ornaments of decency and decorum.
Georgy, on his side, was in the constant habit of hearing coarse abuse and vulgar satire levelled at John Sedley by his pitiless old enemy, Mr.
Some new excitement, too, seemed to prevail among them; for there was much stealthy going in and out, and a constant questioning of those who were newly arrived.