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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.

Close Relatives

In accordance with section 6 of the Companies Act, the definition of a close relative who can serve as a guarantor includes a wide range of family members such as parents, c...

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Fixed installment

One fundamental aspect of loans is the concept of fixed installments. This refers to the regular and predetermined payments made towards a loan over the duration of its term...

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Obligation of the borrower

As a financial professional, it is vital to understand the concept of borrower obligations in an agreement. These obligations include maintaining a repayment schedule, regul...

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Flat rate

As a finance professor, I'm sure you are familiar with the concept of annual interest on loans. But have you ever wondered how it is calculated? Let's dive into the world ...

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