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AMORTIZATION: The process of paying off a debt liability and accrued interest through a series of equal, periodic payments. Car loans and mortgages are two debts commonly paid off through amortization. Your monthly car payment, for example, partially pays for interest accrued on the outstanding balance and partly reduces that balance. Because one payment reduces the outstanding balance, each subsequent payment has a smaller portion for interest. If the proper amortization schedule has been calculated, your loan will be paid off with the last payment.
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BANK LIABILITIES What a bank owes, including most notably customer deposits. Bank liabilities are typically listed on the right-hand side of a bank's balance sheet. Bank assets, what a bank owns, are listed on the left-hand side of a bank's balance sheet. Net worth is the difference between assets and liabilities. The most important liability category of most bank is checkable deposits, which is part of the economy's M1 money supply. The largest liability category includes other types of deposits (especially savings deposits, certificates of deposit, and money market deposits) that enter into the M2 and M3 monetary aggregates.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex trying to buy either a package of 4 by 6 index cards, the ones with lines or a 50 foot extension cord. Be on the lookout for rusty deck screws.
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A half gallon milk jug holds about $50 in pennies.
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"In a decisive set, confidence is the difference. " -- Chris Evert, tennis champion
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AEA
American Economic Association
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