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" The rule for casting interest, when partial payments have been made, is to apply the payment, in the first place, to the discharge of the interest then due. If the payment exceeds the interest, the surplus goes towards discharging the principal, and the... "
An Elementary Arithmetic Serving as an Introduction to the Higher Arithmetic - Page 236
by George Roberts Perkins - 1850 - 347 pages
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An Historical Treatise on the Practice of the Court of Chancery of the State ...

Dominick T. Blake - Civil procedure - 1818 - 706 pages
...the principal, and compute interest upon the balance of principal remaining due, to the next payment. If the payment be less than the interest, the surplus...principal ; and interest is to be computed on the balance of principal as aforesaid. (A) Whether the practice prevailing. among merchants, in settling their...
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A New and Complete System of Arithmetick: Composed for the Use of the ...

Nicolas Pike - Arithmetic - 1822 - 536 pages
...computed on the balance of principal remaining due. If the payment be less than the interest, the MMplus of interest must not be taken to augment the principal...principal ; and interest is to be computed on the balance of principal as albresaid." [Johnson's Chancery Reports, Vol. I. page 17.] This Rule contains the following...
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A New and Complete System of Arithmetick: Composed for the Use of the ...

Nicolas Pike - Arithmetic - 1822 - 562 pages
...taken to augment the principal; but interest continues on the former principal until the period whett the payments, taken together, exceed the interest...principal ; and interest is to be computed on the balance of principal as aforesaid." [Johnson's Chancery Reports, Vol. I. page 17.] Tiiis Rule contains the...
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A New and Complete System of Arithmetick: Composed for the Use of the ...

Nicolas Pike - Arithmetic - 1832 - 538 pages
...until the period when the payments, taken together, exceed the interest due. and then the surplus is W be applied towards discharging the principal ; and interest is to be computed on the balance of principal as aforesaid." [.Johnson's Chancery Reports, Vol. I. page 17.] This Rule contains the...
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Reports of Cases Adjudged in the Court of Chancery of New-York ..., Volume 7

New York (State). Court of Chancery, William Johnson - Equity - 1824 - 748 pages
...payment be less than the interest, the surplus interest must not be added to the principal ; but the interest continues on the former principal, until...be applied towards discharging the principal, and the interest afterwards computed on the balance of principal. State of Connecticut v. Jackson, 1 JCR...
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A New System of Arithmetick: In which the Rules are Familiarly Demonstrated ...

William Ruger - Arithmetic - 1832 - 282 pages
...the payment, in the first place, to the discharge of the interest then due. If the payment exceeds the interest, the surplus goes towards discharging...principal; and Interest is to be computed on the balance of principal as aforesaid." (Johnson's Chancery Reports, Vol. I. page 17.) This Rule is founded on...
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Cobb's Explanatory Arithmetick, Number Two: Containing the Compound Rules ...

Lyman Cobb - Arithmetic - 1832 - 228 pages
...the payments, taken together, exceed the interest due ; and then the surplus is to be applied toward discharging the principal, and interest is to be computed on the balance of principal as aforesaid." The following Rule was established by the Superiour Court of Massachusetts...
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A New and Complete System of Arithmetick: Composed for the Use of the ...

Nicolas Pike - Arithmetic - 1832 - 544 pages
...the payments, taken together, exceed the interest due, and then the surplus is to be applied toward discharging the principal ; and interest is to be computed on the balance of principal as aforesaid." [Johnson's Chancery Reports, Vol. I. page 17.] This Rule contains the following...
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The North American Arithmetic: Part Third, for Advanced Scholars, Volume 3

Frederick Emerson - Arithmetic - 1834 - 300 pages
...the payment, in the first place, to the discharge of the interest then due. If the payment exceeds the interest, the surplus goes towards discharging...to be Computed on the balance, as aforesaid." The interest on the following notes, must be computed by the above legal rule. (116.) Washington, March...
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Every Man His Own Teacher: Being an Introduction to Arithmetic, Whereby ...

John Preston - Arithmetic - 1834 - 312 pages
...apply the payment in the first place, to the discharge of the interest then due. If the payment exceeds the interest, the surplus goes towards discharging...be applied towards discharging the principal ; and interestjs to be computed on the balance of principal as aforesaid." In the settlement of accounts,...
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