We then calculate payments for the next year, which will start again at the end of month 4.

The tradable fixing is often used as a reference price for calculating payments of other structured credit instruments.

According to the California Attorney General's office, the state expects to save about $20 million a year by using this approach to calculating payments.

For the first year, he said, the formulas for calculating payments to brokers of Shearson and Smith Barney will not be changed.

Administration officials said it was unclear whether the families would each be offered the same payment, or whether an attempt would be made to calculate individual payments.

A banker could calculate monthly payments for different mortgages on one side while writing a letter to a customer on the other.

Notional amount: The nominal or face amount that is used to calculate payments made on swaps and other risk management products.

Although annual DVD sales and rentals now far exceed box office revenue, the studios have been unwilling to change the formula for calculating residual payments.

Hunter was calculating monthly payments at a mortgage company in Dallas.

For more information about calculating and recovering statutory payments, see our section: maternity, paternity, adoption, sickness.