PAGARE - PLAN DE AMORTIZACION (La Olla Milagrosa)
Most loan sites charge flat interest -- meaning the interest charge is the same in the first month as in the last. This is much less complicated than recalculating the interest each month on the declining balance. We understand that the ACTUAL interest charged by our partners is therefore slightly higher than the STATED interest rate, although still below what the banks and daily lenders charge. This chart is from one administrator who goes the extra step to recalculate on the declining balance.
Most loan sites charge flat interest -- meaning the interest charge is the same in the first month as in the last. This is much less complicated than recalculating the interest each month on the declining balance. We understand that the ACTUAL interest charged by our partners is therefore slightly higher than the STATED interest rate, although still below what the banks and daily lenders charge. This chart is from one administrator who goes the extra step to recalculate on the declining balance.