contract rate

contract rate

The face rate of the interest on a promissory note;typically the interest rate quoted, as opposed to the federally mandated calculation of annual percentage rate (APR) which treats certain prepaid loan costs as additional interest.

References in periodicals archive ?
The BoD also approved revised discounted contract rate of Transformer Reclamation Workshop SaraiNorang.
Beset by creditors, the Tills then filed a Chapter 13 (personal) bankruptcy petition and plan, and proposed to pay 9.5 percent interest on the remaining balance of their truck loan, not the contract rate of 21 percent.
The contract rate for the 15-year mortgage remained steady at 4.17 percent, but points increased to 1.15 percent, from 1.07 percent during the week prior, for 80 percent LTV loans.
The contract rate on the composite of all mortgage loans fell 9 bps to 4.9%.
R [equivalent to] Annual contract rate (or coupon rate) compounded n times per year;
- If the JPY/AUD exchange rate at the time of review (the "determination rate") is unchanged, or if the yen is weaker relative to the Australian dollar compared with the exchange rate at the time the deposit was made (the "contract rate"), the maturity date will be brought forward.
Born in Ghana and now a United States citizen, Adu signed a six-year contract rate last year with Major League Soccer that is said to be worth $500,000 per year.
1, 1985, and the net present value of future cashflows for each respective instrument at its contract rate.
The institute blamed the fall in the contract rate mainly on Japan's prolonged economic slump.
Weyerhaeuser Co., for example, was buying power from the Eugene (Oregon) Water and Electric Board (EWEB) at a very favorable contract rate and selling much of its own generation at much higher market rates.
Therefore, our contract rate of $98.03 is adjusted by 18% for a targeted contract rate of $80.39 per day.
The main reason why the figure for the full 30 years is not simply 15 x 1.735 percent = 26.025 percent is that, unlike optimal default, optimal prepayment has not been suppressed by the low loan-to-value ratio.(10) Furthermore, such prepayment will accelerate in later years, since, given the loan's low contract rate, it takes time for volatility to be likely to have caused interest rates to drop enough to induce prepayment.
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