Revolving line of credit

Definition:

A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Fully depreciated

An asset that has already been charged with the maximum amount of depreciation allowed by the IRS for accounting purposes.

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