Precomputed Loan means any Loan under which the portion of a payment allocable to earned interest (which may be referred to in the related Loan as an add-on finance charge) and the portion allocable to principal are determined according to the sum of periodic balances, the sum of monthly payments or any equivalent method or are monthly actuarial loans.
Precomputed Loan means a loan in which the debt is a sum comprising the principal amount and the amount of interest computed in advance on the assumption that all scheduled payments will be made when due.
Examples of Precomputed Loan in a sentence
Precomputed loan" means a loan that is expressed as a sum comprising the principal and the amount of the loan finance charge computed in advance.
Effect of usury and penalties.138.09 Precomputed loan law.138.10 Pawnbrokers.138.12 Insurance premium finance companies.138.20 Discrimination in granting credit or loans prohibited.
More Definitions of Precomputed Loan
Precomputed Loan means a loan in which the debt is expressed as a sum comprising the principal and the amount of interest computed in advance.
Precomputed Loan means a loan that is expressed as a sum comprising the principal and the amount of the loan finance charge computed in advance.
Precomputed Loan means a loan which is expressed as a sum comprising the
Precomputed Loan means a loan in which the debt is expressed as the sum of the original principal amount plus interest computed actuarially in advance, assuming all payments will be made when scheduled.
Precomputed Loan means a loan that is expressed as a sum comprising the principal
Precomputed Loan means a loan in which the debt is expressed as a sum comprising the principal and the amount of interest computed in advance.” (Wis. Stat. Ann. §138.09[7][a][1])
Precomputed Loan means an installment