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 ?
Between memory-image and sensation there is an intermediate experience concerning the immediate past.
In this strange world, made a hopeless riddle to him, he might, if he had had a less intense nature, have sat weaving, weaving--looking towards the end of his pattern, or towards the end of his web, till he forgot the riddle, and everything else but his immediate sensations; but the money had come to mark off his weaving into periods, and the money not only grew, but it remained with him.
Some of them, either less impressed with the importance of national credit, or because their citizens have little, if any, immediate interest in the question, feel an indifference, if not a repugnance, to the payment of the domestic debt at any rate.
If even the rule adopted should in practice justify the equality of its principle, still delinquencies in payments on the part of some of the States would result from a diversity of other causes -- the real deficiency of resources; the mismanagement of their finances; accidental disorders in the management of the government; and, in addition to the rest, the reluctance with which men commonly part with money for purposes that have outlived the exigencies which produced them, and interfere with the supply of immediate wants.
Practically all their conversation was confined to the instant present, although they could compass a little of the very immediate past.
Tell me, therefore, whether you object to an immediate solemnization of the marriage.
The State governments will have the advantage of the Federal government, whether we compare them in respect to the immediate dependence of the one on the other; to the weight of personal influence which each side will possess; to the powers respectively vested in them; to the predilection and probable support of the people; to the disposition and faculty of resisting and frustrating the measures of each other.
Again was I suddenly recalled to my immediate surroundings by a repetition of the weird moan from the depths of the cave.