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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 payment routine, like the number of interest due, is determined at that time the mortgage is released, therefore even in the event a debtor makes very very early re payments, the total interest charged will not alter. […]