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" If the payment exceeds the interest, the surplus goes towards discharging the principal, and the subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not... "
Ray's New Higher Arithmetic: A Revised Edition of the Higher Arithmetic - Page 261
by Joseph Ray - 1880 - 408 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
...interest upon the balance of principal remaining due, to the next payment. If the payment be less than the interest, the surplus of interest must not be...continues on the former principal, until the period when the payments taken together exceed the interest due, and then the surplus is to be applied towards...
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A New and Complete System of Arithmetick: Composed for the Use of the ...

Nicolas Pike - Arithmetic - 1822 - 562 pages
...interest is to be computed on the balance of principal remaining due. If the payment be less than tin- interest, the surplus of interest must not be taken...continues on the former principal until the period whett the payments, taken together, exceed the interest due, and then the surplus is to be applied...
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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...continues on the former principal until the period when the payments, taken together, exceed the interest due. and then the surplus is to be applied towards...
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A New and Complete System of Arithmetick: Composed for the Use of the ...

Nicolas Pike - Arithmetic - 1832 - 538 pages
...interest is to be computed on the balance of principal remaining due. 'If the payment be less than the interest, the surplus of interest must not be...to augment the principal ; but interest continues en the former principal until the period when the payments, taken together, exceed the interest due....
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A New System of Arithmetick: In which the Rules are Familiarly Demonstrated ...

William Ruger - Arithmetic - 1832 - 282 pages
...subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the Interest, the surplus of Interest must not be...continues on the former principal until the period when the payments, taken together, exceed the Interest due, and then the surplus is to be applied towards...
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A New and Complete System of Arithmetick: Composed for the Use of the ...

Nicolas Pike - Arithmetic - 1832 - 540 pages
...subsequent isterest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not be...continues on the former principal until the period when the payments, taken together, exceed the interest due, and then the surplus is to be applied toward...
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Cobb's Explanatory Arithmetick, Number Two: Containing the Compound Rules ...

Lyman Cobb - Arithmetic - 1832 - 228 pages
...subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not be...continues on the former principal until the period when the payments, taken together, exceed the interest due ; and then the surplus is to be applied...
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A New and Complete System of Arithmetick: Composed for the Use of the ...

Nicolas Pike - Arithmetic - 1832 - 544 pages
...principal remaining due. If the payment be less than the imprest, the surplus of interest must not betaken to augment the principal; but interest continues on the former principal until the period when the payments, taken together, exceed the interest due, and then the surplus is to be applied toward...
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Every Man His Own Teacher: Being an Introduction to Arithmetic, Whereby ...

John Preston - Arithmetic - 1834 - 312 pages
...subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not be...continues on the former principal until the period when the payments, taken together, exceed the interest due, and then the surplus is to be applied towards...
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The North American Arithmetic: Part Third, for Advanced Scholars, Volume 3

Frederick Emerson - Arithmetic - 1834 - 300 pages
...subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not be...continues on the former principal until the period when the payments, taken together, exceed the interest due, and then the surplus is to be applied towards...
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