 RARPSL
join:1999-12-08
Suffern, NY | My above method of handling the EFT is based on not considering the question of interest (or "Cost of Money") but just treating it as a straight payment situation (or a Zero Interest Loan) and ignoring the question of amortization/etc. Taking those factors into account WOULD increase the original EFT and slow the decrease in remaining EFT due but not to the extent that the so called "Pro-Rated EFT" plans charge. The basic method would either pay off the $10 a month plus one month's interest on the remaining subsidy amount [ie: The monthly payments decrease each month) OR treat it as a normal fixed payment loan where the monthly reduction pays off one month's interest and the remainder pays down the principle. |
