AMT BOND Definition

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AMT BOND is a municipal bond issue used to fund qualified private activity projects such as pollution control facilities or student loans. AMT bonds are taxed as public-purpose municipals, except when an entity pays the alternative minimum tax, in which case the bond is taxed at the full AMT rate.

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ADJUSTABLE RATE MORTGAGE (ARM) is A mortgage that features predetermined adjustments of the interest rate at regular intervals. An ARM's interest rate is tied to an index outside the control of the lender.

COST UNIT is a functional cost unit which establishes standard cost per workload element of activity, based on calculated activity ratios converted to cost ratios.

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