Glossary

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I

 

Independent Broker
NYSE member who executes orders for other brokers who temporarily have more orders than they can handle.

 

Interest
The fee charged by a lender to a borrower for the use of borrowed money, usually expressed as an annual percentage of the principal; the rate is dependent upon the time value of money, the credit risk of the borrower, and the inflation rate. Here, interest per year divided by principal amount, expressed as a percentage. also called interest rate.

 

Interest Only 
A non-amortized loan in which interest is due at regular intervals until maturity, when the full principal on the loan is due.