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).

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COMMISSION is remuneration proportional to sales volume; stated as a percentage or monetary amount.

CAPITAL IN EXCESS OF PAR see ADDITIONAL PAID IN CAPITAL.

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