Adjustable Rate Loan (ARL): A loan with an interest rate that changes during the term of the loan. The payments generally increase or decrease with the interest rate. Rate is based on one of several 'index' options.

 

Related Words

Adjustable Rate Loan (ARL): A loan with an interest rate that changes during the term of the loan. The payments generally increase or decrease with the interest rate. Rate is based on one of several 'index' options.

Photosynthetic Rate: The rate of conversion of dissolved carbon dioxide and bicarbonate ion to photosynthetic product

Phyto-Chemical Concentrates: Chemical constituents of plants part of its defense system, others than proteins, fats, carbohydrates, vitamins and minerals used in human nutrition, enhance overall health, act as detoxifyi . . . View Full Definition

Phosphoglycerate (PGA): A three-carbon molecule formed when carbon dioxide is added to ribulose biphosphate (RuBP) during the dark reaction of photosynthesis (Calvin, or Calvin-Benson Cycle). PGA is converted to PG . . . View Full Definition

Pherecratean: A classical greek and latin metrical pattern consisting of an iamb or a trochee, a dactyl, and a trochee or a spondee.

Periodic Rate: The monthly effective interest rate. For example, the periodic rate on a credit card with an 18% annual percentage rate is 1.5% per month.

Personal Inflation Rate: The inflation rate as it affects a specific individual.

Personal Loan: Loans available from banks and other financial institutions to private individuals for personal use such as the purchase of a motor vehicle, holiday or similar item are personal loans. Repay . . . View Full Definition

Piece Rate: A per-piece rate system that pays employees based on the number of pieces produced.

Piggyback Loans: A loan divided into two parts with one lender taking a secondary security position.