Amortization

Business / Construction / Amortization : A payment plan by which a loan is reduced through monthly payments of principal and interest.
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PAC Bond

Business / Finance / PAC Bond: Stands for Planned Amortization Class bond. A tranche class offered by some CMOs that has a sinking fund schedule and an ability to make principal payments that are not subordinated to other classes. MORE

Perpetual Bond

Business / Finance / Perpetual Bond: Nonredeemable bond with no maturity date that pays regular interest rates indefinitely. MORE

Perpetual Inventory

Business / Accounting / Perpetual Inventory: A Perpetual Inventory is one whose balance is updated after each and every transaction. See Inventory . MORE

Perpendicular Spread

Business / Finance / Perpendicular Spread: Option strategy involving the purchase of options with similar expiration dates and different exercise prices. MORE

Pernod

Entertainment / Liquor / Pernod: A French made, anise flavored substitute for now illegal absinthe. 80 proof. MORE

Permitted Acreage

Business / Agriculture / Permitted Acreage: The acreage on which a farm program participant is permitted to grow a program crop after satisfying acreage reduction requirements. For example, when a 10% acreage reduction program is in effect for MORE