Fixed Payment

Level-Payment Mortgage
A level-payment mortgage requires the same payment each month or other period to achieve full amortization over the loan term. This structure provides predictability for borrowers regarding monthly expenses.
Life Annuity
An annuity that makes a guaranteed fixed payment for the rest of the life of the annuitant. After the annuitant dies, the beneficiaries receive no further payments.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.