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 periodicals archive ?
The result follows since the constant term is given by taking the sum of the terms corresponding to the exponents [l.
Hence, the switch from CPI to PCE measure of inflation could have been associated with a downward shift in the constant term of the estimated Taylor rule around 2000.
Hence, with the constant term, the unrestricted model has 5 parameters for Hyderabad, and 3 parameters for the other three markets given in Table I.
The picture changes considerably when the convergence model is estimated allowing for heterogeneity in the constant term (fixed-effects model).
Equation (4) gives the mean equation of the change in MNDR and includes a constant term [mu] in the estimation, while Equation (5) is the (conditional) variance equation.
77; the constant term is small and insignificantly different from zero.
It remains unclear, however, whether this difference in the fit is due to shifts in the spread level (the constant term in the regression) between Treasuries and the other rates, or simply that none of the coefficients are as good when we use Treasuries.
Equation 5 is the Grabowski and Baxter [13] model without the constant term.
The constrained model restricts the weights to be non-negative and sum to one, and it does not permit the inclusion of a constant term in the combination equation.
For each behavioral relationship in the macroeconomic model, the analyst may specify adjustments to the constant term of the equation.

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