ACTUARIAL METHOD Definition

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ACTUARIAL METHOD means the method of allocating payments made on a debt between the amount financed and the finance or other charges where the payment is applied first to the accumulated finance or other charges and any remainder is subtracted from, or any deficiency is added to the unpaid balance of the amount financed.

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BENEFIT PERIOD is the projected useful life time period over which an asset will be productive.

SWAPTIONS are over-the-counter options on swaps.

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