Fin. Math

Type of pay Periods Vocab

Weekly

Refers to a recurring time period of seven days, often used in finance to calculate interest, payments, or other financial metrics on a weekly basis.

Bi-Weekly

Refers to a recurring time period of fourteen days, commonly used in finance for payroll, payments, or interest calculations occurring every two weeks.

Monthly

Refers to a recurring time period of thirty days or one calendar month, commonly used in finance for billing cycles, interest calculations, and payroll occurring once a month.

Semi-Monthly 

Refers to a recurring time period occurring twice a month, typically used in finance for payroll or billing cycles, where payments or calculations are made on specific dates within each month.

Custom 

Payment schedules tailored to individual needs or preferences, allowing flexibility in frequency and amount.