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Installment loans from nonbank providers routinely have “precomputed,” instead of “simple,” interest

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Installment loans from nonbank providers routinely have “precomputed,” instead of “simple,” interest Precomputed interest ensures that the re re payment routine, such as the level of interest due, is calculated at that time the loan is granted, therefore regardless of if a borrower makes very early re re payments, the total interest charged will not […]