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 ?
I noticed the words "pure" and "natural" in constant use by my young friend.
But it was the constant shadow of my presence, the closest propinquity of the man whom he had most vilely wronged, and who had grown to exist only by this perpetual poison of the direst revenge
Was I not, though you might deem me cold, nevertheless a man thoughtful for others, craving little for himself -- kind, true, just and of constant, if not warm affections?
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.
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.
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.
As the unsetting polar star, which through the livelong, arctic, six months' night sustains its piercing, steady, central gaze; so Ahab's purpose now fixedly gleamed down upon the constant midnight of the gloomy crew.
The late owner of this estate was a single man, who lived to a very advanced age, and who for many years of his life, had a constant companion and housekeeper in his sister.
Frequent war and constant apprehension, which require a state of as constant preparation, will infallibly produce them.
But wherever there is a rich supply of Fog objects that are at a distance, say of three feet, are appreciably dimmer than those at a distance of two feet eleven inches; and the result is that by careful and constant experimental observation of comparative dimness and clearness, we are enabled to infer with great exactness the configuration of the object observed.
In her own past behaviour, there was a constant source of vexation and regret; and in the unhappy defects of her family, a constant source of vexation and regret; and in the unhappy defects of her family, a subject of yet heavier chagrin.
Every afternoon brought a return of their riotous games all over the house; and she very early learned to sigh at the approach of Saturday's constant half-holiday.