Total curiosity paid: That is exactly how much fascination you’ll shell out if you retain the loan for the entire time period. So how can we earn money? Our partners compensate us. This could affect which merchandise we evaluation and publish about (and the place These products and solutions appear on the internet site), nevertheless it by no me

(g) "Sum of the balances strategy," also known as the "Rule of 78," usually means a way used with regard to a transaction to determine the portion of the loan finance cost attributable to the time frame before the scheduled due date of the ultimate installment on the transaction. The amount so attributable is decided by multiplying the finance cost

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