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A balloon payment is a lump sum payment that is made at the end of a loan’s term. It is typically higher than the regular payments made during the loan’s term. The balloon payment is used to pay off the remainder of the loan’s balance. What is a balloon payment example? A balloon payment is … Read more
A deficit spending unit is a public or private sector entity whose spending exceeds its revenue. In the public sector, deficit spending units include the central government, state and local governments, and public corporations. In the private sector, deficit spending units include households and businesses. The term “deficit spending” is often used interchangeably with “government … Read more
When we speak of community property, we are referring to the property that has been acquired by the spouses during their marriage. In this sense, the ownership of these assets is in equal parts, reducing the importance of who has contributed it. We must emphasize that, since the marriage exists legally and it has been … Read more
Refund is a term that can be applied in a general way in some commercial transaction or in the financial operations investment and bag. In commercial transactions and sales operations, reimbursement refers to the return of an amount of money or material goods that a person had given to pay for a product or a … Read more
