Search results

Yep, that's what my old bank did...this new one seems to be ridiculous. I'm sure that the only reason they do it, is because they know more often than not they can rip customers off this way by baffling them, there is no sense to it otherwise. I had a previous employer that did the "average...

Sorry, to hijack, stumbled across this after trying to find out more about Capitalising Interest. This is the situation: Loan is an investment and balance starts off at X, with Interest Only. End of the month, interest is calculated at RATE * days in month / 365 and added onto loan...