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Adjustable Rate Mortgage (ARM)
An adjustable rate mortgage is a long-term loan you use to finance a real estate purchase, typically a home. The interest rate on an ARM is adjusted, or changed, during its term.
American Opportunity Tax Credit
The American Opportunity Tax Credit (AOTC) is a credit for qualified education expenses paid for an eligible student for the first four years of higher education. You can get a maximum credit of $2,500 per eligible student.
The amount that credit card companies charge for the use of a credit card.
Annual Percentage Rate (APR)
Also known as your interest rate, this interest rate determines the finance charges you pay on your account if you carry a balance.
Annual Percentage Yield (APY)
The effective, or true, annual rate of return. The APY is the rate actually earned or paid in one year, taking into account the effect of compounding. The APY is calculated by taking one plus the periodic rate and raising it to the number of periods in a year.
A resource with economic value that an individual, corporation or country owns with the exception that it will provide future benefits.