After-tax income, also known as after-tax cash flow, represents the amount of earnings that remain after deductions for income taxes. It is a crucial indicator of an individual's or business's actual financial situation and their ability to invest, save, or spend.
A borrower is a person or entity that has received a loan and is obligated to repay the amount borrowed, often with interest and other fees, according to the loan terms. The term is commonly used interchangeably with 'debtor.'
A level annuity is a financial product that provides a series of equal periodic payments for a specified period, typically in retirement planning or loan schedules.
Net worth is a financial metric that provides a snapshot of an individual's financial health at a specific point in time. It represents the difference between total assets and total liabilities.
An unsecured loan is a debt not protected by any collateral or security, meaning the lender relies solely on the borrower's creditworthiness and promise to repay.
