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* Related Definitions, Terms and Acronyms:
  • Loan - a transfer or delivery of money from one party to another with the express or implied agreement that the sum will be repaid regardless of contingency and usually with interest.
  • Compounding - to compute interest on the principal and accrued interest together, rather than on the principal alone.
  • Gas pump - a machine at a gas station that is used to put gasoline in vehicles, also known as fuel dispensers.
  • Compound interest - interest which is regularly added to the debt (called compounding) and is calculated over the principal PLUS over the interest already accrued to the debt (over the total amount owed).
  • Compounding - to compute interest on the principal and accrued interest together, rather than on the principal alone.

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