Bullet

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Related to Minie bullet: Minie rifle, Gatling gun

Bullet

A one-time repayment, often after little or no amortization of the loan. See: Balloon Payment.

Bullet

The final, large payment a loan whereby the property owner makes only small payments for a set period of time (often five, seven or 10 years). At the end of the term, the owner repays the bullet, which is the entire principal and interest at once. For example, during the 2000s real estate bubble, balloon mortgages were common; homeowners made only interest payments followed by a bullet for the entire principal of the mortgage's maturity. Loans with bullets may be useful if the owner expects interest rates to be low at the end of the term and he/she can simply refinance the loans. However, there is a high risk of default because not all owners have the cash to repay the loan at one given time.
References in periodicals archive ?
Caption: The Model '51 Cadet came in two versions--the original .57 smoothbore (top) and a .58 rifled version (below) that was modified to handle Minie bullets and issued to the U.S.
By war's end, the muzzleloading technology of the Rifled Musket and the Minie Bullet were passe.
69 cartridge, consisting of an issue 730-grain Minie bullet and 70 grains of black powder, it would seem that it would be no more punishing than shooting a Model 1842 Rifled Musket, which was even 6 ounces lighter than the Plymouth and about which there were few, if any, complaints.
Widely issued and well liked, some underwent later modification to fire the .54" and later .58" Minie bullets. The standard loading of 70-grains FFg and the 230-grain ball gave our Dixie Gun Works/Euro-Arms sample 1,423 fps and a projected drop of 33" at 200 yards when sighted for 100 yards.