when needing to understand the concepts of simple interest, compound interest and discounting, what is discounting? does it have another word which is used as i cannot find it in books..
2007-10-23 08:10:28 · 2 answers · asked by ugene425 1 in Business & Finance ➔ Renting & Real Estate
what does this have to do with " Property surveying "?
2007-10-23 08:18:50 · answer #1 · answered by Jan Luv 7 · 0⤊ 0⤋
Are you talking about discount points to lower the rate on a mortgage?
This is from the Mortgage Professor website: http://www.mtgprofessor.com/glossary.htm
Points
An upfront cash payment required by the lender as part of the charge for the loan, expressed as a percent of the loan amount; e.g., "3 points" means a charge equal to 3% of the loan balance. It is common today for lenders to offer a wide range of rate/point combinations, especially on fixed rate mortgages (FRMs), including combinations with negative points. On a negative point loan the lender contributes cash toward meeting closing costs. Positive and negative points are sometimes termed "discounts" and "premiums," respectively.
But what does that have to do with property surveying?
2007-10-23 08:20:00 · answer #2 · answered by Debdeb 7 · 0⤊ 0⤋