accounts important questions

Yard -- (1) the open, unoccupied ground area on a lot, between the exterior walls of a building and the property line. Yards may be to the front, rear or side of the building. (2) Slang for a $100 bill.

Yield -- (1) the return on an investment, expressed as a percentage of the price originally paid for it. If the investment, such as a security, is to be sold, its yield is its return expressed as a percentage of its current market price. (2) Income derived from an investment in property. (3) to give up possession; to pay.

Yield curve -- a chart in which yield levels are plotted on the vertical axis and the terms to maturity of debt instruments of similar creditworthiness are plotted on the horizontal axis.

Yield to maturity -- the average annual yield of a fully amortized loan, that is held by an investor for the life of the loan. The average rate takes into the account the fact that the outstanding principal, and consequently the amount of interest, declines each year until the loan is fully paid. When the term is used in reference to a bond or other security, it means the average annual rate of return of the security when held to maturity, taking into account discounts or premiums paid when the security is purchased and capital gains or losses.

Zero-coupon bond -- a security sold at a deep discount from its face value and redeemed at its full face value at maturity. These bonds pay no interest. Instead, the investor's return is the difference between the purchase price of the bond and its face value when redeemed. Since these bonds do not pay interest, there are no interest coupons attached to the bond document, hence the name "zero-coupon bond." Even though the yield is not paid until maturity, the return accrues and is taxable on a prorated basis each year of the bond's life.

Zoning -- a legislative process that divides a community into areas (zones) of specified land use and that regulates the location, height, density, type and overall size of buildings within each zone. The zones are designated according to broad categories of land use, such as residential, commercial or industrial, and more specifically as to building type or density of land use, such as single family or multifamily residential.

Zoning code, law or ordinance -- a local law prescribing how and for what purpose each parcel of land in a community may be used.