- ordinary interest
- /ˌɔ:d(ə)n(ə)ri 'ɪntrəst/ nounannual interest calculated on the basis of 360 days (as opposed to ‘exact interest’ which is calculated on 365 days)
Dictionary of banking and finance. 2015.
ordinary interest
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ordinary interest — interest based on a 360 day year instead of a 365 day year, resulting in what can be a significant difference. Bloomberg Financial Dictionary * * * ordinary interest ordinary interest ➔ interest * * * ordinary interest UK US noun [U] FINANCE ►… … Financial and business terms
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ordinary income — n: income that does not derive from the exchange or sale of capital assets or property used in one s trade or business and that for individuals includes compensation, interest, dividends, and short term capital gains Merriam Webster’s Dictionary… … Law dictionary
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ordinary — 1. noun At common law, one who had exempt and immediate jurisdiction in causes ecclesiastical. Also a bishop; and an archbishop is the ordinary of the whole province, to visit and receive appeals from inferior jurisdictions. Also a commissary or… … Black's law dictionary
