Examples of Specified Discount Factor in a sentence
The Contract Value of any particular receivable may be greater than or less than its outstanding principal amount, depending primarily upon whether the annual percentage rate of that receivable is greater than or less than the Specified Discount Factor.
If a receivable’s annual percentage rate is greater than the Specified Discount Factor, its Contract Value will be greater than its outstanding principal balance because the discount rate used to determine its Contract Value is lower than the annual percentage rate that generated the finance charge component of the scheduled payments that are discounted to determine the Contract Value.
Operationally, the Board will adopt Human Resources best practices and programs including encouraging qualified applicants from under-represented communities, such as the Black community and other communities of colour, to self-identify in order to proactively recruit and hire a diverse workforce.
Conversely, if a receivable’s annual percentage rate is lower than the Specified Discount Factor; its Contract Value will be less than its outstanding principal balance because the discount rate used to determine its Contract Value is greater than the annual percentage rate that generated the finance charge component of the scheduled payments that are discounted to determine the Contract Value.