Precomputed Interest
Barron's Banking Dictionary:
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Precomputed Interest
Finance charge on consumer installment loans that is computed in advance, and added to the outstanding balance owed by the borrower. The basis of interest calculation is usually the Add-on Interest method. Contrast with Simple Interest.
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Precomputed Interest
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Barron's Banking Dictionary
Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.
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