Installment to amortize one dollar

Installment to amortize one dollar,

Definition of Installment to amortize one dollar:

  1. A mathematical calculation based on compound interest that allows the periodic payment necessary to retire a $1 loan during a certain period of time. The periodic installment must exceed the periodic interest rate.

Meaning of Installment to amortize one dollar & Installment to amortize one dollar Definition