Outrageously Funny Word Dictionary :: Benjamins

👉 In finance, a "benjamin" refers to the interest rate on a certain type of investment or loan. This is often used in the context of fixed-rate loans, such as mortgages and credit cards. For example, if you have a 30-year mortgage with an annual interest rate of 5%, your monthly payment would be based on the principal amount outstanding plus the current market interest rate. The benjamin on this loan is calculated by multiplying the principal amount by the annual percentage rate (

benjamins