Posted by David (OH) on October 24, 2001 at 10:21:56:
What do you do when a payment is a few days late? How much of that payment goes to pricipal and how much to interest? Do you assume that it was received on time for interest calcs and then just add a late fee?
What type of compounding to use? - Posted by Brian H. ¶
Posted by Brian H. ¶ on October 23, 2001 at 17:26:54:
When figuring out a MH sale, what type of compounding should I use in Amortization calculations? Daily, monthly, annually? I’m a little confused on this point. Would appreciate any/all enlightenment.
Brian H. ¶
If payments are paid monthly… - Posted by RobertR CO
Posted by RobertR CO on October 23, 2001 at 21:07:50:
…then use monthly compounding.