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" If the payment exceeds the interest, the surplus goes towards discharging the principal, and the subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not... "
Arithmetic: As Taught in the Troy Episcopal Institute - Page 192
by W. F. Walker - 1841 - 231 pages
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An Historical Treatise on the Practice of the Court of Chancery of the State ...

Dominick T. Blake - Civil procedure - 1818 - 706 pages
...the principal, and compute interest upon the balance of principal remaining due, to the next payment. If the payment be less than the interest, the surplus...to augment the principal ; but interest continues on the former principal, until the period when the payments taken together exceed the interest due,...
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A New and Complete System of Arithmetick: Composed for the Use of the ...

Nicolas Pike - Arithmetic - 1822 - 562 pages
...interest is to be computed on the balance of principal remaining due. If the payment be less than tin- interest, the surplus of interest must not be taken to augment the principal; but interest continues on the former principal until the period whett the payments, taken together, exceed the interest due,...
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A New and Complete System of Arithmetick: Composed for the Use of the ...

Nicolas Pike - Arithmetic - 1822 - 536 pages
...surplus goes towards discharging the principal, aud the subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the MMplus of interest must not be taken to augment the principal ; but interest continues on the former...
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Reports of Cases Adjudged in the Court of Chancery of New-York ..., Volume 7

New York (State). Court of Chancery, William Johnson - Equity - 1824 - 748 pages
...surplus goes towards discharging the principal ; and the subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus interest must not be added to the principal ; but the interest continues on the former principal, until...
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A New and Complete System of Arithmetick: Composed for the Use of the ...

Nicolas Pike - Arithmetic - 1832 - 540 pages
...surplus goes toward discharging the principal, and the subsequent isterest is to be computed on the balance of principal remaining due. If the payment...to augment the principal ; but interest continues on the former principal until the period when the payments, taken together, exceed the interest due,...
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A New System of Arithmetick: In which the Rules are Familiarly Demonstrated ...

William Ruger - Arithmetic - 1832 - 282 pages
...surplus goes towards discharging the principal, and the subsequent interest is to be computed on the balance of principal remaining due. If the payment...taken to augment the principal, but Interest continues on the former principal until the period when the payments, taken together, exceed the Interest due,...
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Cobb's Explanatory Arithmetick, Number Two: Containing the Compound Rules ...

Lyman Cobb - Arithmetic - 1832 - 228 pages
...surplus goes toward discharging the principal, and the subsequent interest is to be computed on the balance of principal remaining due. If the payment...to augment the principal ; but interest continues on the former principal until the period when the payments, taken together, exceed the interest due...
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A New and Complete System of Arithmetick: Composed for the Use of the ...

Nicolas Pike - Arithmetic - 1832 - 544 pages
...surplus goes toward discharging the principal, and the subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the imprest, the surplus of interest must not betaken to augment the principal; but interest continues...
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Every Man His Own Teacher: Being an Introduction to Arithmetic, Whereby ...

John Preston - Arithmetic - 1834 - 312 pages
...surplus goes towards discharging the principal, and the subsequent interest is to be computed on the balance of principal remaining due. If the payment...to augment the principal ; but interest continues on the former principal until the period when the payments, taken together, exceed the interest due,...
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The North American Arithmetic: Part Third, for Advanced Scholars, Volume 3

Frederick Emerson - Arithmetic - 1834 - 300 pages
...surplus goes towards discharging the principal, and the subsequent interest is to be computed on the balance of principal remaining due. If the payment...taken to augment the principal; but interest continues on the former principal until the period when the payments, taken together, exceed the interest due,...
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