MINIMUM PAYMENT Definition

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MINIMUM PAYMENT is the minimum amount that you must pay, e.g. usually monthly on a home equity loan or line of credit. In some payment agreements the minimum payment may be "interest only" (simple interest). In other loan agreements, the minimum payment may include principal and interest (amortized).

Learn new Accounting Terms

PERPETUAL is a fixed income security with no maturity date, such as a preferred stock with no sinking fund.

ABNORMAL GAIN see NORMAL LOSS.

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