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planned amortization class (PAC)
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1 dictionary results for: planned amortization class (PAC)
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planned amortization class (PAC)

A type of collateralized mortgage obligation with a predetermined principal paydown schedule that provides investors with greater cash-flow certainty and a more specific average life. The greater payment certainty comes at the expense of a lower yield to investors.

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott.
Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company.
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