actuarial method

actuarial method. A means of determining the amount of interest on a loan by using the loan’s annual percentage rate to separately calculate the finance charge for each payment period, after crediting each payment, which is credited first to interest and then to principal. [Cases: Interest 59. C.J.S. Interest and Usury; Consumer Credit § 74.]

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词条贡献者

资深译员重在，毕业于世界顶级翻译学院，擅长翻译各类与监管和调查相关的法律文件。