Add-on method

Add-on method is a procedure for calculating a consumer’s loan rate in which interest is assigned on the full principal of an installment loan.

Share it: CITE

Previous:
Computer Programming

Next:
Adjustable-rate mortgages (ARMs)

Related Definitions

Traditional net cost method
Traditional net cost method is a method of determining cost...
Pure premium method of rating
Pure premium method of rating is a rating system used...
Loss ratio method of rating
Loss ratio method of rating is a rating system in...
Interest-adjusted method
Interest-adjusted method is a method of determining cost to an...
Add-on plan
Add-on plan mean pays benefits to an automobile accident victim...

Categories