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The Primary Insurance Amount ( PIA[ 1]) is a component of Social Security provision in the United States. Eligibility for receiving Social Security benefits, for all persons born after 1929, requires accumulating a minimum of 40 Social Security credits. Typically this is accomplished by earning income from work on which Federal Insurance ...
Treating a month as 30 days and a year as 360 days was devised for its ease of calculation by hand compared with manually calculating the actual days between two dates. Also, because 360 is highly factorable, payment frequencies of semi-annual and quarterly and monthly will be 180, 90, and 30 days of a 360-day year, meaning the payment amount ...
t. e. Compound annual growth rate ( CAGR) is a business, economics and investing term representing the mean annualized growth rate for compounding values over a given time period. [ 1][ 2] CAGR smoothes the effect of volatility of periodic values that can render arithmetic means less meaningful. It is particularly useful to compare growth rates ...
Mortgage. A mortgage loan or simply mortgage ( / ˈmɔːrɡɪdʒ / ), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.
Per capita income ( PCI) or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. In many countries, per capita income is determined using regular population surveys, such as the American Community Survey. [ 1] This allows the calculation of per capita income for both the ...
Poverty threshold. Graph of global population living on under 1, 1.25 and 2 equivalent of 2005 US dollars daily (red) and as a proportion of world population (blue) based on 1981–2008 World Bank data [needs update] Poverty thresholds for 2013. The poverty threshold, poverty limit, poverty line, or breadline[ 1] is the minimum level of income ...
With monthly payments, the monthly interest is paid out of each payment and so should not be compounded, and an annual rate of 12·r would make more sense. If one just made interest-only payments, the amount paid for the year would be 12·r·B 0. Substituting p k = r k B* into the equation for the B k, we obtain
In business and finance, a floating rate loan (or a variable or adjustable rate loan) refers to a loan with a floating interest rate. The total rate paid by the customer varies, or "floats", in relation to some base rate. The term of the loan may be substantially longer than the basis from which the floating rate loan is priced; for example, a ...