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Maximum loan amount

In the realm of finance, the term 'maximum amount financed' refers to the highest sum of money that can be borrowed through a financing scheme. This amount is typically expressed as either a fixed numerical value or a percentage of the asset's overall worth. It is important to carefully consider this figure when making financial decisions, as it can greatly impact the overall cost and feasibility of a particular venture. As knowledgeable individuals in the field of finance, it is crucial to have a thorough understanding of this concept and its implications.

Annual Reducing Method

Let's dive into the concept of diminishing balance method, a technique used to calculate interest on loans. The reduced principal is taken into consideration at the end of ...

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Extent of loan

A crucial concept in the realm of home finance is the loan-to-value ratio, also known as exposure. This refers to the percentage of a property's value that a home finance co...

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Total initial payment

When purchasing an asset, the customer is required to make an initial payment. This payment not only covers the cost of the asset, but also includes any service charges and ...

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Amortisation

Amortization refers to the gradual decrease of a sum of money over a specific period. This is commonly seen in loan repayment, where the borrower makes regular payments to r...

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