TAXABLE EQUIVALENT YIELD Definition

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TAXABLE EQUIVALENT YIELD is the yield that must be received on a taxable security to provide the holder with the same after-tax return as that earned on a tax-exempt bond or preferred stock.

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STATISTICAL is making inferences in uncertain situations using applied mathematics. Measurements from a small group (the sample) are used to infer the behavior of a larger group, the population. Probability theory determines how well the sample represents the population.

OBLIGATION BOND is a bond signed by a mortgagor (borrower) for an amount greater than the loan amount. Such a bond creates a personal obligation on the part of the borrower and assures the lender of recourse in case of nonpayment of property taxes and insurance or past due interest on the mortgage.

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