Six figures refers to a number that is six digits long, and the term usually refers to an annual income amount. Six-figure dollar amounts range from $100,000 to $999,999.Continue Reading
Six-figure incomes are an indicator of affluence in the United States. As of 2008, an annual household income of at least $100,000 means the home's residents lie in the top quartile of American households according to income. A single earner making that sum enjoys a spot in the top 6 percent of all workers.
Inflation dictates the spending power of someone with a six-figure income. As prices and wages rise over time, the purchasing power of the six-figure income goes down and more earners enter that income bracket.Learn more about Financial Calculations
A "P&I" payment for a mortgage is a "principal and interest" payment, which is usually made monthly over the term of the loan, according to Quicken Loans. A principal and interest payment does not include taxes and insurance, two items that are commonly spread out over the loan in an escrow account. AllBusiness explains that the principal portion of the monthly payment reduces the amount of overall principal owed.Full Answer >
Vertical integration is an economic term that describes the merging of two different types business into one or the merging of two different lines of production within one business. What makes this type of merging, or integration, vertical is the fact that one of the businesses or lines of production is different from the other. This tactic is often an industry response to sharing limited or scarce resources.Full Answer >
A mortgage calculator prompts a user to enter certain parameters, including mortgage amount, mortgage term, interest rate and start date, as stated by Bankrate. The calculator then computes this data to determine the minimum monthly payment amounts. In some instances, the calculator generates a table output that displays each payment.Full Answer >
Car loan calculators take into account the amount of the auto loan, the term of the auto loan, the annual interest rate and when the loan begins, as stated by Bankrate. When entering the loan amount, buyers subtract the amount of their down payment from the full amount of the loan. Buyers can also decide whether to enter the term of their loan in months or years.Full Answer >