UNDERSTANDING HOW A PRECOMPUTED LOAN WORKS

Do not use to figure monthly payments. ... “ADD-ON INTEREST” MONTHLY PAYMENT FACTOR CHART – see example at bottom of this chart. ... To find ACTUARIAL (simple interest)RATEon an ADD-ONInterestcontract,EXAMPLE:Financed for60 months at 8%Add-On =14.12%AnnualPercentage (simp le … ................
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