Financial & Mathematical Glossary

A fixed monthly payment made by a borrower to a lender at a specified date each calendar month to clear both loan principal and accrued interest.

A loan interest calculation methodology where interest is computed solely on the remaining unpaid principal at the start of each month, rather than the initial loan amount.

A disciplined investment methodology in which an investor deposits a fixed sum at regular periodic intervals (typically monthly) into a mutual fund scheme.

The mean annualized growth rate of an investment over a specified period of time longer than one year, representing geometric rather than arithmetic progression.

A statutory tax rebate under the Indian Income-tax Act providing 100% tax relief for resident individuals whose net taxable income does not exceed ₹7,00,000 under the New Tax Regime (Section 115BAC).

Under the Payment of Gratuity Act 1972, gratuity for each year of completed service is computed as 15 days wages based on a 26-day working month (30 days minus 4 Sundays).

An overall grade point average representing a student’s academic achievement across all completed semesters on a standardized 10-point scale.

A two-dimensional unit of area measurement equal to a square measuring one foot on each side (144 square inches or 0.092903 square meters).