Precomputed interest definition

Precomputed interest means an interest method that uses the original payment schedule to calculate interest.
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Precomputed interest means an amount equal to the whole amount of interest payable on an installment loan for the period from the making of the loan to the date scheduled by the terms of the loan for the payment of the final installment;
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Precomputed interest means an interest method that uses
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Examples of Precomputed interest in a sentence

  • Precomputed interest in Texas Finance Code, Chapter 342, Subchapter E and G loans is subject to refund.


More Definitions of Precomputed interest

Precomputed interest means an interest method which uses
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Related to Precomputed interest

  • Imputed Interest means any interest imputed under Section 1272, 1274 or 483 or other provision of the Code and any similar provision of state and local tax law with respect to the Corporate Taxpayer’s payment obligations under this Agreement.

  • Deferred Interest shall have the meaning set forth in Section 4.1.

  • Accreted Interest Interest accrued on a Loan that is added to the principal amount of such Loan instead of being paid as it accrues.

  • Offered Interest has the meaning set forth in Section 11.2.1.

  • Purchased Interest means, at any time, the undivided percentage ownership interest of the Purchasers in: (a) each and every Pool Receivable now existing or hereafter arising, (b) all Related Security with respect to such Pool Receivables and (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security. Such undivided percentage ownership interest shall be computed as:

  • Interest Adjustment Date With respect to a Mortgage Loan, the date, if any, specified in the related Mortgage Note on which the Mortgage Interest Rate is subject to adjustment.

  • Required Interest shall have the meaning specified in the Standard Terms.