Credit and Debt Management

Mathematics

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The disadvantages of credit card

Overspending

The disadvantages of credit card

Some stores do not accept credit payment

Definition of flat interest

The interest rate will be calculated on the original loan amount over the term of the loan

Definition of monthly instalment

The total amount paid by the borrower to the bank every month to settle the balance of the loan

Definition of interest on balance

The amount of interest charged each month on the loan depends on the amount of the loan balance for that month

Formula of flat interest

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