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" If the payment exceeds the interest, the surplus goes toward 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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Reports of Cases Argued and Determined in the Court of ..., Page 10, Volume 2

Alonzo Christopher Paige - Equity - 1864 - 828 pages
...due. If the payment be less than the interest, the surplus interest must not be taken to augment tha principal ; but interest continues on the former principal...the payments taken together exceed the interest due, an 1 then the surplus is to be applied toward discharging the principal ; and interest u to be computed...
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An Elementary Arithmetic Serving as an Introduction to the Higher Arithmetic

George Roberts Perkins - Arithmetic - 1865 - 360 pages
...principal, and the subsequent interest is to le computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not be takcn to augment the principal ; but interest continues on the former principal until the period when...
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Upper Canada Law Journal, Volume 1

Law - 1865 - 358 pages
...the subsequent interest is to be computed on the balance of principal remaining due. If the payments be less than the interest, the surplus of interest must not be taken to argument the principal ; but interest continues on the former principal until the period when the payments,...
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Practical Arithmetic, by Induction and Analysis

Joseph Ray - Arithmetic - 1857 - 358 pages
...payment be less than the -Int., the surplus of Int. must not be taken to augment the principal, but Int. continues on the former principal, until the period when the payments, taken together, exceed the Int. due, and 'then the surplus is to be applied toward discharging the principal; and Int. is to be...
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An Elementary Arithmetic Serving as an Introduction to the Higher Arithmetic

George Roberts Perkins - Arithmetic - 1869 - 358 pages
...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 bt taken to augment the principal ; but interest continues on the former principal until the period...
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Treatise on the Civil and Criminal Jurisdiction of Justices of the Peace and ...

Charles W. Langdon - Constables - 1870 - 858 pages
...principal, and the subsequent interest is to be computed on the balance of the principal remaining. If the payment be less than the interest, the surplus...payments, taken together, exceed the interest due. But where an account has been stated by the plaintiff, charging interest both on the debt and the payments,...
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A Complete Arithmetic: Uniting Mental and Written Exercises in a Natural ...

Emerson Elbridge White - Arithmetic - 1870 - 350 pages
...interest is to be computed on the balance of principal remaining due. If the payment be LESS than tiie interest, the surplus of interest must not be taken...the period when the payments, taken together, exceed tiie interest due, and t)ien the surplus is to be applied toward discharging the principal, and Hie...
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Common School Arithmetic on the Analytic System: With an Appendix of the ...

Shelton Palmer Sanford - Arithmetic - 1872 - 404 pages
...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...interest must not be taken to augment the principal, but the interest continues on the former principal until the period when the payments, taken together,...
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The American Commercial Arithmetic: For the Use of the Grand Rapids Business ...

T. A. Bryce - Business mathematics - 1873 - 370 pages
...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...interest continues on the former principal until the time when the payments, taken together, exceed the interest due, and then the surplus is to be applied...
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The Principles of Arithmetic ...

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...principal, until the period when the payments taken toy&lher exceed the interest due, and then the surplus ~~f. HM RF.vimv. — 325. If a note;'is not...
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