Bill Whittle does a great job of making the complex easily understandable:
The kind of issue that also happens to most countries. - Bernadine Fried
that? would depend if the loan is on a rinucedg basis or a flat basis. If it is rinucedg, the interest would be calculated on the remaining principal and if it is a flat rate, the interest would be calculated on the original principal. If your banker quotes you a very low flat rate, be aware that you will continue to pay a higher interest through out the term of the facility unlike loans on rinucedg rates.
More information about formatting options
To make a donation by check, please send check to:
P.O. Box 788 Morrisville, NC 27560-0788