The U.S. Rule is a method that allows the borrower to receive proper interest credit when a debt is paid off in more than one payment before the maturity date.
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Q12: Ordinary interest results in a slightly higher
Q13: The amount a bank charges for the
Q14: Ordinary interest is never used by banks.
Q15: Ordinary interest is required by all banks.
Q16: The U.S. Rule is seldom used in
Q18: The Banker's Rule is the same as
Q19: Principal is equal to rate divided by
Q20: The time of a loan could be
Q21: The amount charged for the use of
Q22: Interest on $5,255 at 12% for 30
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