Total assets = Total liabilities + Equity. The balance sheet is one of the key elements in the financial statements, of which the other documents are the income statement and the statement of cash flows. A statement of retained earnings may sometimes be attached.
Fixed Rate Defined. A fixed interest rate means that the interest rate that you will be charged over the term of your loan will not change, no matter how high or how low the market may drive interest rates. Your payment will remain the same on your last payment as it was on your first payment.
What characterizes a fixed rate mortgage is the term of the loan and its interest rate. There are a number of popular mortgage loan terms: 50 year fixed rate, 40 year fixed rate, 30 year fixed rate, 15 year fixed rate, and 10 year fixed rate.Compare fixed, adjustable & interest-only mortgages side by side.The above referenced calulator uses rough ranges for interest rates.5 Year Fixed Rate Mortgage. A 15-year fixed rate mortgage allows the homebuyer to own their home free and clear in a 15 year period. While the monthly payments are a little higher than a 30-year mortgage, the interest rate on the 15-year mortgage is a little lower most of the time.