FASTBAC Definition

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FASTBAC is First Automotive Short-Term Bonds and Certificates; asset-backed securities supported by automo­tive loan contracts.

Learn new Accounting Terms

COST OF DEBT is interest rate times 1 minus the marginal tax rate (because interest is a tax deduction). An increase in the tax rate decreases the cost of debt.

BANK BALANCE is the amount of money in a bank account on a particular date as recorded by a financial institution on a bank statement.

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