 | John Groesbeck - Business mathematics - 1871 - 370 pages
...principal, and the subsequent interest is to be computed cm the balance of principal remaining due. III. If the payment be less than the interest, the surplus...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 discharging... | |
 | Calvin Townsend - Commercial law - 1871 - 620 pages
...then due. 2. 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. 3. If the payment be less than the interest, the surplus of interest must not be taken to augment the... | |
 | John Groesbeck - 1872 - 374 pages
...interest due. II. 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. III. If the payment be less than the interest, the surplus of interest must not be taken to augment... | |
 | Shelton Palmer Sanford - Arithmetic - 1872 - 404 pages
...due. II. ulf tJie payment exceeds the interest, the surplus goes toward discharging the principal, and the subsequent interest is to be computed on the balance of the principal remaining due. III. "If the payment be less than the interest, the surplus of interest... | |
 | William Johnson - Equity - 1873 - 550 pages
...payment exceeds payments are the interest, the surplus goes towards discharging the prin- made' cipal, and the subsequent interest is to be computed on the...interest, the surplus of interest must not be *taken [ * 18 ] to augment the principal ; but interest continues on the former principal until the period... | |
 | Joseph Ray - 1856 - 400 pages
...interest is to be computed on the bqlance of principal remaining due. *' "If the payment be LESJS tJxtn the interest, the surplus' of interest must not be...on the former principal, until the period when the payments taken toy&lher exceed the interest due, and then the surplus ~~f. HM RF.vimv. — 325. If... | |
 | Emerson Elbridge White - Arithmetic - 1870 - 348 pages
...interest then due. If the payment EXCEEDS the interest, the surplus goes toward discharging the principal, and the subsequent interest is to be computed on the...balan.ce of principal remaining due. If the payment lie LESS than tiie interest, tlte surplus of interest must not be taken to augment the principal, but... | |
 | John Groesbeck - Business mathematics - 1873 - 376 pages
...interest due. II. 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. III. If the payment be less than the interest, the surplus of interest must not be taken to augment... | |
 | T. A. Bryce - Business mathematics - 1873 - 370 pages
...then due. 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 the principal remaining due. If the payment be less than the interest, the surplus of interest must... | |
 | Horatio Nelson Robinson - Arithmetic - 1875 - 468 pages
...and the subsequent interest is to be computed on the balance of the principal remaining due. . III. 'If the payment be less than the interest the surplus...interest must not be taken to augment the principal, but the inte-. rest continues on the former principal until the period when the payments, taken together,... | |
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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... 
