Interest Due

Interest Due

The amount of interest, expressed in dollars, computed by multiplying the loan balance at the end of the preceding period times the annual interest rate divided by the interest accrual period.

On a monthly accrual mortgage, interest due is computed by multiplying the loan balance at the end of the preceding month times the annual interest rate divided by 12. Interest due is the same as the interest payment except when the scheduled mortgage payment is less than the interest due, in which case the difference is added to the balance and constitutes negative amortization.

References in classic literature ?
Pullet's departure, informing her that she needn't trouble her mind about her five hundred pounds, for it should be paid back to her in the course of the next month at farthest, together with the interest due thereon until the time of payment.
Ferrari, and looked at her again, with the interest due to the victim of a shock.
Antoine Chamoun, general manager of "Bank of Beirut Invest explained that this program will exempt the borrower from paying all interest due on the second phase of the loan, i.
And, despite this significant investment, these companies still average $32,000 each year in penalties and interest due to errors.
In 1988 the government found PG&E was entitled to a refund plus interest but incorrectly calculated the amount of interest due.
uk, admitted that they are unable to calculate the interest due to them.
Taxpayers guilty of using abusive tax shelters have until April 15 to amend their returns and pay the tax and interest due.
CellStar Corporation , a global value-added wireless logistics services leader, today announced that it has set November 15, 2002, as the record date for purposes of the payment of interest due on November 30, 2002, the maturity date under its 5% Senior Subordinated Convertible Notes.
Britain's biggest mortgage lender said about 28,000 customers who had taken out mortgages with Leeds Permanent, with which Halifax merged in 1995, had been charged too little interest due to a processing error.
67 for loan interest due, and the annual premium due was $2,152.
Over the years, taxpayers have experienced mounting increases of interest due on tax deficiencies.
By the middle of January, the agent had received interest due notices on nearly all the properties, with many marked as having an input date of January 8.